Market Roundup

Market Roundup

Chinese economics figures for June and second-quarter GDP growth were both worse than consensus, and Hong Kong stock market fell back today. The HSI opened 91 points lower and then expanded its losses, falling 277 points or 1.5% today to close at 18,015; the HSCEI fell 110 points or 1.7% to close at 6,421; the HSTECH fell 109 points or 2.9% to close at 3,672. The total daily turnover of the market was HK$91.15bn. Chinese retail sales data last month were worse than consensus, and domestic demand stocks fell. Li Ning (2331) and Nongfu Spring (9633) fell 4.9% and 4.6% respectively. Wanzhou (0288) spun off Smithfield and listed in the US. Its share price fell 0.2% in the afternoon.

Source: KGI Asia Investment Strategy

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