Market Roundup

Hong Kong stock market faced profit-taking pressure today. The HSI opened 110 points lower and then extended its decline, closing at 23,689, down 530 points or 2.2% today. The HSCEI fell 207 points or 2.3% to 8,742. The HSTECH fell 196 points or 3.4% to 5,639. The total market turnover for the day was HK$339.09bn. CKH (0001) recorded a 10.6% drop in basic profit last year, a final dividend of HK$1.514 and a 5.8% drop in share price. Henderson Land Development (0012)'s underlying profit rose slightly by 0.7% year-on-year last year, with a final dividend of HK$1.3 and a share price drop of 1.7%. Nike's profit fell 32% last quarter due to poor sales in the Chinese market. Topsports (6110) fell 3.2%.

Source: KGI Investment Strategy

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