Market Insight

Half Day Roundup

The Hang Seng Index opened 131 points higher this morning, at 18,669 points, and rose 322 points, or 1.7%, in half a day, to 18,859 points; the HSCEI Index rose 118 points, or 1.8%, to 6,679 points; the Hang Seng Technology Index fell 11 points, or 0.3%, to 18,859 points. 3,936 points. The total half-day turnover of the market was HK$93.9 billion. Benefiting from rumors that China intends to exempt mainland investors who purchase Hong Kong stocks through Southbound Trading and receive dividends from paying 20% dividend income tax to the mainland government, the Hong Kong Stock Exchange (388) rose 6.8%; other traditional dividend paying stocks also benefited, with China Construction Bank (939) rose 6.2% and China Shenhua (1088) rose 5.4%.

Source: KGI Asia Investment Strategy

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