Market Roundup

Market Roundup

After Alibaba (9988) announced that it would spin off its business, JD.com (9618) also said yesterday that it intends to spin off subsidiaries and go public in Hong Kong. The Hang Seng Index opened 275 points higher at 20,584 points, and rose 91 points or 0.4% to 20,400 points at market close; the China Enterprises Index rose 46 points or 0.7% to 6,969 points; the Hang Seng Technology Index rose 33 points or 0.8% to 4,304 point. The market turnover was HK$140.6 bn. News of the spin-off of JD.com (9618) drove the share price up 5.4% to HK$172. NAYUKI (2150) narrowed its loss to Rmb 470 mn, and its stock price rose 16.9% to HK$8.49.

Source: KGI Asia Investment Strategy

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