Market Insight

Market Roundup

The market focused on the interest rate meeting. The Hang Seng Index opened 207 points lower this morning to 18,868 points. The index narrowed its decline by as much as 129 points and then expanded again. It fell 267 points or 1.4% in half a day to 18,808 points; the H-Share Index fell 86 points or 1.3% to 6,329 points; the Hang Seng Technology Index fell 57 points or 1.4% to 4,047 points. The market's half-day turnover was HK$ 42.7 bn. AAC Technologies (2018) issued a profit warning and its share price fell 3%. Market worries about the debt of mainland property developers continued, and related stocks continued to suffer setbacks. Country Garden (2007) fell 5%, Longfor (960) fell 7.7%

Source: KGI Asia Investment Strategy

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