Market Insight

Half Day Roundup

There was news that China is considering taking measures to stabilize the stock market. Hong Kong stocks rebounded significantly today. Opened 77 points higher at 15,038 points. The half-day gain expanded to 368 points or 2.5% to 15,329 points; the H-Share Index rose 135 points or 2.7%, reported 5,137 points; the Hang Seng Technology Index rose 108 points, or 3.5%, to 3,143 points. The total half-day turnover of the market was HK$70.7 billion. After the stock market plunged yesterday, China Resources Land (1109) and Longfor(960) rebounded by more than 7% today. Technology stocks also rebounded, with Alibaba (9988), Meituan (3690), Baidu (09888.HK) and Kuaishou (1024) rose 2.6% to 3.4%

Source: KGI Asia Investment Strategy

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