Market Roundup

Market Roundup

The State Council Information Office will hold a press conference tomorrow morning to introduce a package of fiscal policies, and Hong Kong stock market continue to rise. The HSI opened 211 points higher this morning and expanded its gains, rising 362 points or 1.6% today to close at 23,099; the HSCEI rose 174 points or 2.1% to close at 8,330; the HSTECH rose 159 points or 3% to close at 5,386. The total daily market turnover was HK$296.84bn. Insurance and brokerage stocks continued to outperform the market, with Ping An of China (2318) and CICC (3908) rising 4.2% and 23% respectively. Chip stocks were hotly speculated, with SMIC (0981) and Hua Hong (1347) rising 21.8% and 16.3% respectively.

Source: KGI Investment Strategy

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