Market Insight

Market Roundup

Official media cited expert comments, pointing to the possibility of lowering the LPR in February and the possibility of lowering the policy interest rate in March. In addition, Central Huijin announced that it has expanded the scope of holdings of exchange-traded open-end index funds. The news drove the Hang Seng Index to open 31 points higher at 15,541 points, the gain expanded to 627 points throughout the day, to 16,137 points. The H-Share Index rose 256 points, or 4.9%, to 5,474 points; the Hang Seng Technology Index rose 205 points, or 6.7%, to 3,244 points. The total daily turnover of the market was HK$128 billion. As for technology stocks, Alibaba (9988), Meituan (3690) and Tencent (700) rose 7.6%, 6.4% and 4% respectively. Giordano (709) shareholder requisite to dismiss the chairman and CEO, the stock price fell 3.9% to HK$1.96.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.