Market Insight

Half Day Roundup

The three major U.S. stock market rebounded yesterday, and Hong Kong market followed the Asia-Pacific region's stock market performance today. HSI opened 76 points higher and rose 241 points in the morning. Afterwards, the increase narrowed to 82 points or 0.4% in mid-day to 20,025. HSCEI fell 6 points or 0.1% to 6,663. HSTECH fell 22 points or 0.6% to 3,967. The market's mid-day turnover totaled HK$59.7bn. China Telecom stocks were favored, China Telecom (0728) and China Unicom (0762) rose 3.9% and 4.2% respectively. Financial sector also performed well today, AIA (1299) and HSBC (0005) rose 2.5% and 1.5% respectively.

Source: KGI Asia Investment Strategy

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