Market Insight

Market Roundup

The People's Bank of China announced a cut in the deposit reserve ratio last night, and the retail and industrial added value announced this morning were better than market expectations. The Hang Seng Index opened 106 points higher at 18,154 points. Hang Seng Index closed at 18,183 points, up 135 points or 0.7%. The Hang Seng Technology Index rose 19 points to 4,078. H-Share index rose 34 points to 6,309 point. Market turnover reached HK$118 bn. Yum China (9987) benefited from an upward revision of its full-year outlook and economic data, and its stock price rose by more than 4% today. However, mainland property-related stocks under selling pressure CG Services (6098 fell by 1.8%. Sino-Ocean Group (3377) fell by more than 12%.

Source: KGI Asia Investment Strategy

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