Market Roundup

The National People's Congress opened today. The government work report proposed a 5% economic growth target and a 4% budget deficit rate, which stimulated the Hong Kong stock market to rise. The HSI opened 258 points higher and then extended its gains, rising 378 points or 1.7% at mid-day to 23,320; the HSCEI rose 152 points or 1.8% to 8,520; and the HSTECH rose 102 points or 1.9% to 5,638. The total market turnover was HK$135.16bn. Cheung Kong Holdings (0001) plans to sell Hutchison Port Holdings assets. Cheung Kong Holdings surged 21.2% today. Its peer CK Asset (1113) also rose 4.8%.

Source: KGI Investment Strategy

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