Market Insight

Market Roundup

The market is waiting to see the US CPI released this week. D&J index rose 186 points or 0.6% last night. Hong Kong market followed today. HSI rose 335 points and once peaked at 21,667 before taking profits from investors. HSI closed at 21,436, up 104 points or 0.5. HSTECH closed at 4,547, down 11 points or 0.3%. HSCEI rose 47 points, or 0.7%, to 7,310. Market turnover was HK$165.9bn. Alibaba (9988) signed a strategic cooperation agreement with Hangzhou City, and its stock price rose 3.1% to HK$112.9. Other Chinese tech stocks generally rose today, with Tencent (0700) and Baidu (9888) rising 3.1% and 2.5% respectively.

Source: KGI Asia Investment Strategy

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