Market Insight

Market Roundup

The market is looking forward to the rate cut next year and the mainland's economic stimulus policies. The HSI opened 208 points higher and expanded its gains. It once rose 562 points to 16,964 and rose 491 points or 3% in mid-day to 16,893. The HSCEI rose 181 points or 3.3%, closed at 5,755; the HSTECH rose 130 points, or 3.5%, to 3,828. The total half-day turnover of the market was HK$66.46bn. Beijing and Shanghai adjusted the minimum down payment ratio, and Chinese developers generally rose. The share prices of Sunac China (1918) and Longfor (0960) rose by 14.1% and 7.1% respectively. For Chinese tech stocks, JD.com (9618) performed best, with its share price rising 9.7% in mid-day.

Source: KGI Asia Investment Strategy

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