Market Roundup

U.S. President Trump did not announce an immediate increase in tariffs on China, leading to a rise in the offshore RMB and an increase in Hong Kong stocks in the morning session. The Hang Seng Index opened 202 points higher, briefly fell by 5 points, and then rose again, ending the day up 181 points or 0.9% at 20,106 points. The China National Index rose 85 points or 1.2% to 7,321 points. The Hang Seng Tech Index rose 98 points or 2.1% to 4,694 points. The total market turnover for the day was HK$148 billion. SMIC (981) continued its upward trend, rose 6.3%. Country Garden Holdings (2007) rose 17.5% on its first day of resumption of trading.

Source: KGI Investment Strategy

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