Market Roundup

The PBOC lowered the one-year and five-year LPR by 25 bps, a decrease that exceeded market expectations. After opening 73 points lower, the HSI fell as much as 239 points. It narrowed to 114 points in the afternoon, but it still fell 325 points or 1.6% to close at 20,478; the HSCEI fell 131 points or 1.8% to close at 7,340; the HSTECH fell 108 points or 2.4% to close at 4,491. The total daily market turnover was HK$195.56bn. Jiu Maojiu (9922)'s main brand same-store sales fell by 10.3% to 32.5% in the third quarter, and its stock price fell by 7.2%. Pharmaceutical stock China Traditional Chinese Medicine (0570) announced that the privatization proposal has expired, and its stock price fell 35.1%.

Source: KGI Investment Strategy

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