Market Roundup

Half Day Roundup

The Hang Seng Index opened 18 points lower in early trading, starting at 17,328 points. By midday, it had fell 33 points or 0.2%, to 17,311 points. The HSCEI Index dropped 22 points or 0.4%, to 6,084 points. The Hang Seng Tech Index fell 45 points or 1.3%, to 3,471 points. The total market turnover for the half-day was HKD 53.221 billion. The market is pessimistic about the performance of sportswear stocks, with Li Ning (2331) and Topsports (6110) shares fell by 5.8% and 5.1%, respectively. Budweiser APAC (1876) reported results below market expectations, with its share price dropped by 2.4%. Sales of the top 100 real estate companies in mainland China fell by 40% year-on-year in the first seven months, causing Yuexiu Property (123) to fell by 11%.

Source: KGI Asia Investment Strategy

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