Market Roundup

Market Roundup

The Hang Seng Index continued its upward trend and closed at 19,924 points for the whole day, up 795 points or 4.2%. The Hang Seng Technology Index reported at 4,210 points, up 285 points or 7.2%. The H-Share Index rose 321 points, or 4.7%, to 7,087 points. The market's full-day turnover was HK$302.9 billion. In the afternoon, the Political Bureau of the CPC Central Committee held a meeting and set a target that real estate prices should stop falling and stabilize. The share prices of property developers rose sharply. Longfor (960) rose 28% and China Resources Land (1109) rose 21.5%. Another sector driving the market was consumer stocks, with Haidilao (6862) rose18% and China Resources Beer (291) rose 15.7%.

Source: KGI Investment Strategy

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