Market Roundup

A-shares market performed well, and Hong Kong stock market also rose today. After opening 169 points higher, the HSI gained momentum and rose by 229 points or 1.2% at mid-day to 19,655; the HSCEI rose by 104 points or 1.5% to 7,084; the HSTECH rose by 43 points or 1% to 4,371. The daily market turnover was HK$78.55bn. CSRC issued market capitalization management guidelines, requiring listed companies to improve profitability. Central state-owned enterprises generally rose. Among them, infrastructure stocks performed best, with China Railway Construction (1186) and China Communications Construction (1800) rising 9.3% and 3.5% respectively. Alibaba (9988) quarterly adjusted net profit fell 9.1% yoy, in line with consensus, and its stock price fell 0.9%.

Source: KGI Investment Strategy

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