Market Insight

Market Roundup

The Hang Seng Index continued its uptrend, opened 168 points higher at 21,220 points. Index performance was volatile, and it fell 60 points to 20,991 point at market close. HSCEI fell 29 points or 0.4% to 7,143 point. The Hang Seng Technology Index fell 63 point, or 1.4%, to 4,431 points. The market turnover was HK$148.3 bn. Abu Dhabi Bank said that the process of acquiring Standard Chartered (2888) was no longer under consideration, and its stock price rose 4.5% to HK$64.3. It was reported that China plans to relax financing for the Chinese property developer. Mainland property stocks performed well. Country Garden (2007) rose nearly 6%.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.