Market Roundup

The market is waiting to see the National People's Congress meeting to be held soon, while Hong Kong stock market fluctuated today. After opening 2 points higher, HSI fell 161 points, and then gradually recovered its losses, rising 9 points today to close at 20,599; the HSCEI rose 5 points, or 0.1%, to close at 7,391; the HSTECH rose 36 points, or 0.8% to close at 4,574. The daily market turnover was HK$136.32bn. Evergrande Automobile (0708)'s stock price fell 9.0% after discussions on potential share transfers were terminated. The market is speculating on the restructuring of the mainland steel industry, with Maanshan Iro (0323) and Angang Steel (0347) rising 9.1% and 7.2% 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.