Market Insight

Half Day Roundup

Affected by geopolitical risks, the DJIA fell more than 1% last Friday, but gains in A-shares narrowed the decline in Hong Kong stock market. After opening 234 points lower, the HSI fell 122 points, or 0.7%, to 16,599 at the mid-day; the HSCEI fell 23 points, or 0.4%, to 5,855; the HSTECH fell 37 points, or 1.1%, to 3,436. The total mid-day turnover of the market was HK$54.30bn. Zhaojin (1818) raised more than 1.7 billion yuan through a share placement at a discount of 9.7%, and its stock price fell 8.6%. Chow Tai Fook (1929)'s quarterly retail value increased by 12% yoy, but same-store sales in China fell by 2.7%, and its stock price fell by 6.2%.

Source: KGI Asia Investment Strategy

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