Market Roundup

U.S. inflation came in lower than market expectations, but only the Dow Jones Index closed lower among the U.S. indices. The Hang Seng Index fluctuated, recording gains at one point, but closed at 23,462 points, down 138 points or 0.6% for the day. The Hang Seng Tech Index closed at 5,748 points, down 98 points or 1.6%. The China Enterprises Index fell 41 points or 0.5% to 8,640 points. The total turnover for the day was HKD 233.8 billion. It is reported that mainland authorities have asked the four major state-owned banks to support New World Development (0017), whose stock price rose 1.1% against the market trend.

Source: KGI Investment Strategy

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