Market Roundup

Half Day Roundup

It was reported that Harris has secured enough support to represent the Democratic Party in the US election, and the three major US stock indexes all rose. The Hang Seng Index opened 43 points higher at 17,679 points and fell 16 points or 0.1% in half a day to 17,620 points; HSCEI Index fell 6 points or 0.1% to 6,247 points; the Hang Seng Technology Index fell 31 points or 0.8% to 3,579 points. The total half-day turnover of the market was HK$41.6 billion. Berkshire Hathaway has reduced its holdings in BYD (1211) to less than 5% out of total share outstanding. There is no need to disclose subsequent reductions. The stock price fell 3.1% today. Chinese banking stocks performed well today, with Industrial and Commercial Bank of China (1398), China Construction Bank (939) and Bank of China (3988) rose 2.3%, 1.6% and 1.2% respectively.

Source: KGI Asia Investment Strategy

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