Market Roundup

Half Day Roundup

China's July exports in US dollar terms rose 7% less than consensus. Hong Kong stock market rose along with Asia-Pacific stock markets today. The HSI opened 37 points higher and expanded its gains, rising 217 points or 1.3% at mid-day to 16,864; the HSCEI rose 78 points or 1.3% to 5,931; the HSTECH rose 39 points or 1.2% to 3,381. The total mid-day market turnover was HK$47.06bn. New Oriental (9901) announced an increase in buybacks to US$700mn and proposed a special dividend. The stock price rose 5.1% at mid-day. Utilities stocks continued to perform well, benefiting from expectations of rate cuts. The share prices of Electric Power (0006) and Cheung Kong Infrastructure (1038) rose by 2.9% and 3.3% respectively.

Source: KGI Investment Strategy

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