Market Roundup

Half Day Roundup

China's August PMI fell to 49.1 and continued to fall into contraction. Hong Kong stock market fell in the morning. The HSI opened 126 points lower and then extended its losses, closing at 17,670, down 318 points or 1.8% at mid-day. The HSCEI fell 118 points, or 1.9%, to 6,212. The HSTECH closed at 3,495, down 64 points or 1.8%. The total mid-day market turnover was HK$64.41bn. New World (0017) issued a profit warning of a full-year loss of HK$20bn, and its stock price fell 13.4% at mid-day, making it the worst-performing blue-chip stock. Chinese banking stock ICBC (1398)'s first-half net profit fell by 1.9% yoy, and its stock price fell by 3.3%.

Source: KGI Investment Strategy

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