Market Insight
Market Roundup
The trend of the Hang Seng Index was soft. The Hang Seng Index opened 120 points lower at 17,521 points. The decline for the whole day narrowed to 29 points, or 0.1%, to 17,612 points; the HSCEI Index fell 5 points, or 0.1%, to 6,219 points; Hang Seng Technology The index fell 39 points, or 1.1%, to 3,469 points. The total daily turnover of the market was HK$78.7 billion. NetEase (9999) adjusted its net profit forecast to miss expectations, and its stock price fell 10.28%. Alibaba (9988) announced that it will become a primary listing on the Hong Kong Stock Exchange on August 28, and its stock price rose 1.2%.
Source: KGI Investment Strategy
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