Market Roundup

On the first trading day without market suspension due to severe weather in the Hong Kong stock market, the Hang Seng Index opened 197 points lower at 19,649 points, and by midday, it had fallen 173 points or 0.88% to 19,649 points. The China Enterprises Index dropped 69 points or 0.98% to 7,060 points, and the Hang Seng Tech Index fell 63 points or 1.4% to 4,392 points. The total market turnover for the half-day was HKD 81.4 billion. Tencent (700) announced better-than-expected earnings after the market closed yesterday, and its stock price rose 1.58% against the market trend to HKD 410. Mainland property stocks were weak, with Longfor (960) and China Resources Land (1109) falling 5% and 3.2%, respectively.

Source: KGI Investment Strategy

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