Market Insight

Market Roundup

The Hang Seng Index opened 35 points higher at 16,236 points. The Hang Seng Index rose 173 points throughout the day to 16,374 points. The H-Share Index rose 82 points or 1.5% to 5,614 points. The Hang Seng Technology Index rose 64 points or 1.7 points to 3,730 points. The total daily turnover of the market was HK$86.6 bn. After Li Ning (2331) announced yesterday that decide to purchase an office building in Hong Kong, its stock price plummeted, but then announced a share buyback. Today its stock price rebounded 4.4% to HK$19.1. In addition, mainland property developer stocks performed well today, with China Resources Land (1109) and Longfor (960) rising 5.9% and 4.9% respectively.

Source: KGI Asia Investment Strategy

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