Market Insight

Market Roundup

Hong Kong stocks continued to weaken today as the market waited to see the upcoming US inflation data. The HSI opened 131 points lower and then expanded its losses, falling 275 points or 1.6% today to close at 17,524; the HSCEI fell 97 points or 1.5% to close at 6,284; the HSTECH fell 30 points or 0.8% to close at 3,566. The market's total daily turnover was HK$89.31bn. The Baltic Dry Index fell for three consecutive days, and shipping stocks generally fell. The share prices of COSCO Shipping Holdings (1919) and Orient Overseas Holdings (0316) fell 8.0% and 6.5% respectively. Domestic demand stocks generally fell, with Nongfu Spring (9633) and Xiabuxiabu (0520) both falling 3.6% and 4.8% respectively.

Source: KGI Asia Investment Strategy

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