Market Insight

Market Roundup

U.S. officials continued to be hawkish yesterday. After the Hang Seng Index rose by more than 800 points yesterday, it retreated and opened 230 points lower at 20,390 points. The China Enterprises Index fell 57 points to 6,857 point; the Hang Seng Technology Index fell 59 points to 4,126 point. The market turnover was HK$110.5 bn. Technotech (669) announced its results last night after being bearish by short sellers earlier. Today's share price rose 3.8% to HK$83.3. In another results announcement, Xinte Energy (1799) saw its net profit rise 1.7 times, but its share price fell 6.3% to HK$16.72.

Source: KGI Asia Investment Strategy

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