Market Roundup

Half Day Roundup

The Fed have announced the 50bps cut rates which was more than consensus, and Hong Kong stock market rose repeatedly today. The HSI opened 26 points lower and then rose, rising 318 points or 1.8% at mid-day to 17,978; the HSCEI rose 115 points or 1.8% to 6,291; the HSTECH rose 107 or 3.1% to 3,644. The total mid-day market turnover was HK$76.83bn. Spurred by the rate cuts, mainland property stocks generally performed well. CRL (1109) rose 9.3%, becoming the best-performing blue chip stock. Home appliance stocks Midea (0300) and Haier Smart Home (6690) rose 9.6% and 7.9% respectively.

Source: KGI Investment Strategy

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