Market Insight

Market Roundup

U.S. Federal Reserve Chairman Powell avoided talking about monetary policy, while China announced that its latest CPI data turned negative. The Hang Seng Index opened 15 points lower at 17,553 points and fell 54 points or 0.3% in half a day to 17,514 points. The H-Share Index fell 14 points or 0.2% to 6,026 points. The Hang Seng Technology Index rose 1 point to 4,022 points. The total half-day turnover of the market was HK$41.4 bn. Xiaomi (1810) continued to rise today, rising nearly 2% to HK$16.46. In addition, property management stocks were under pressure, with China Resources MIXC (1209) and Country Garden Services (6098) fell 5.5% and 6.6% respectively.

Source: KGI Asia Investment Strategy

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