Market Roundup

Half Day Roundup

Caixin reports that China’s Ministry of Finance may issue RMB 6 trillion in ultra-long-term government bonds over three years to help local governments resolve debt. However, the Hang Seng Index still opened down 47 points at 21,046 points, and by midday, the decline widened to 282 points or 1.3%, closing at 20,810 points. The HSCEI Index fell 112 points or 1.5% to 7,467 points, and the Hang Seng Tech Index dropped 53 points or 1.1% to 4,614 points. The total market turnover for the half-day was HKD 109.967 billion. China Resources Beverage (2460) started its IPO today, but China Resources Beer (291), also part of the China Resources group, fell 8.6% by midday to HKD 30.9, making it the worst-performing blue-chip stock.

Source: KGI Investment Strategy

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