Market Roundup

Market Roundup

Chinese government will issue an additional RMb1tn in government bonds to support post-disaster reconstruction and other tasks, and the State Council can increase the debt limit for some local governments. Hong Kong stocks market performed well in morning. The HSI opened 473 points higher and then narrowed its gains, rising 200 points or 1.2% in mid-day to 17,191; the HSCEI rose 88 points or 1.5% to 5,887; the HSTECH rose 104 points or 2.9% to 3,727. The total mid-day turnover of the market was HK$54.08bn. Heavyweight stocks performed well today, with share prices of Tencent (0700) and Alibaba (9988) rising 2.5% and 3.3% respectively. Domestic demand stocks generally rose, with the share prices of Bud Apac (1876) and Topsports (6110) rising by 4.6% and 5.4% respectively.

Source: KGI Asia Investment Strategy

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