Market Roundup

Market Roundup

The Hang Seng Index opened flat this morning at 17,085 points and fell 94 points or 0.5% in half a day to 16,991 points. The China National Index fell 27 points or 0.46% to 5,827 points. The Hang Seng Technology Index fell 12 points or 0.3% to 3,688 points. The total half-day turnover of the market was HK$42.1 bn. Li Ning (2331) announced third-quarter operating data that was worse than market expectations, and its shares fell 18.5% to HK$24.6, dragging down peer Anta (2020) to fall 3.8%. The Hong Kong Stock Exchange (388) break record low and fell 2.2% to HK$272. The policy address was announced yesterday and the property related policy was lower than market expectations. Hang Lung (101) continued to fall by nearly 4% today.

Source: KGI Asia Investment Strategy

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