Market Roundup

Half Day Roundup

Expectations for a major interest rate cut of 0.5% in the United States in September have increased. The Hang Seng Index opened 35 points lower, at 17,387 points, and rose 250 points, or 1.4%, in half a day, to 17,672 points; the HSCEI Index rose 87 points, or 1.4%, to 6,177 points; the Hang Seng Technology Index rose 43 points, or 1.2%, to 3,540 points , the total half-day turnover was HK$34.945 bn. On its first day of listing, Midea Group (300)'s share price rose 8% to HK$59.2. As expectations of interest rate cuts increased, the share prices of Wharf REIC (1997) and CK Asset (1113) rose 5% and 4.4% respectively.

Source: KGI Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.