Market Insight

Market Roundup

The market is waiting to see the FOMC meeting this week. The HSI opened 173 points lower and then narrowed its losses. It fell 49 points or 0.3% in mid-day to 17,349. The HSCEI fell 59 points or 1% to 5,919. The HSTECH rose 14 points or 0.4%, closed at 3,820. The half-day market turnover was 51.26bn. Several Chinese banks announced below-consensus earnings results. The Chinese banking sector generally fell, with share prices falling between 3.9% and 7.1%. WuXi Biologics (2269)'s spin-off from WuXi XDC passed the listing hearing. WuXi Biologics and its related company WuXi AppTec (2359) rose 5.3% and 4.3%.

Source: KGI Asia Investment Strategy

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