Market Insight

Market Roundup

U.S. Federal Reserve Chairman Powell avoided talking about monetary policy, while China announced that its latest CPI data turned negative. The Hang Seng Index opened 15 points lower, at 17,553 points, and fell 57 points, or 0.3%, to 17,511 points at market close; the H-Share Index fell 10 points, or 0.2%, to 6,030 point. The Hang Seng Technology Index rose 3 points, to 4,024 points. The market turnover was HK$75.3 bn. Xiaomi (1810) continued to rise today, rose nearly 2.3% to HK$16.52. In addition, property management stocks were under pressure, with China Resources MIXC (1209) and Country Garden Services (6098) falling 5.7% and 7.6% respectively.

Source: KGI Asia Investment Strategy

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