Market Roundup

The U.S. inflation figure in November was in line with consensus. The market is expecting the Fed to cut interest rates by 25bps in December. Hong Kong stock market rose today. The HSI opened 58 points higher and expanded its gains, rising 346 points or 1.7% at mid-day to 20,501; the HSCEI rose 148 points or 2% to 7,397; the HSTECH rose 115 points or 2.6% to 4,647. The total mid-day market turnover was HK$81.08bn. Domestic demand stocks generally rose today, with stocks such as Jiu Maojiu (9922), CRB (0291) and Mengniu (2319) all rising more than 6%. There is news that HSBC (0005) is promoting organizational restructuring and aims to save at least US$3bn. The stock price rose 0.3% today.

Source: KGI 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.