Market Roundup

Hong Kong stocks rose in the morning session. The Hang Seng Index opened 97 points higher and then expanded its gains, rising by 337 points to a high of 23,456 points. It closed the day up 87 points or 0.4%, at 23,207 points. The China Enterprises Index rose 21 points or 0.2%, to 8,537 points. The Hang Seng Tech Index rose 13 points or 0.2%, to 5,407 points. The total market turnover for the day was HKD 250.2 billion. There are rumors in the market about the mainland optimizing the centralized procurement plan for pharmaceuticals, leading to a strong performance in pharmaceutical stocks. CSPC Pharmaceutical (1093) and REMEGEN (9995) both rose by more than 10%.

Source: KGI Investment Strategy

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