Market Roundup

Market Roundup

The USD/CNY offshore rate fell below 7 while Hong Kong stock market opened higher and then moved lower. The HSI opened 591 points higher and then narrowed its gains. It rose 128 points or 0.7% today to close at 19,129; the HSCEI rose 51 points or 0.8% to close at 6,765; the HSTECH rose 8 points or 0.2% to close at 3,924. The daily market turnover increased to HK$254.85bn. Insurance and brokerage stocks continued to outperform the market, with Ping An (2318) and CICC (3908) rising 3.8% and 4.2% respectively. Demand stocks generally rose. Miniso (9896), whose share price fell sharply yesterday, rebounded 8.0% today.

Source: KGI Investment Strategy

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