Market Insight

Market Roundup

China Evergrande Group filed for bankruptcy protection in the United States. The Hang Seng Index opened 117 points lower today, opening at 18,209 points, and the full-day decline extended to 376 points or 2.05%, closing at 17,951 point; the H-Share Index fell 145 points, or 2.3%, at 6,147 point; The Hang Seng Technology Index fell 151 points, or 3.6%, to 4,007 point. The market turnover was HK$ 106.4 bn. Evergrande Services (6666) and Evergrande Vehicle (708) fell 9.1% and 16% respectively. Longfor (960) fell 3.8% to HK$16.54 after the results announcement.

Source: KGI Asia Investment Strategy

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