Market Insight

Market Roundup

China's retail, fixed investment, and industrial growth data all fell short of expectations. In addition, the People's Bank of China lowered the medium-term lending facility (MLF) by 15 basis points. The Hang Seng Index opened 174 points lower and closed at 18,599 points. The decline once widened to 216 points but managed to narrow slightly. It fell 151 points or 0.8% in half a day to 18,622 points; the China Enterprises Index fell 41 points or 0.6% to 6,382 points; The HSTECH index fell 15 points, or 0.4%, to 4,193. The market's half-day turnover was HK$ 43.6 bn. Wharf Real Estate (1997) fell 7.3% today to HK$33.65, the worst performing blue chip stock.

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.