Market Roundup

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

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