Market Insight

Market Roundup

Hong Kong stock market continued to perform well today, with the HSI recording three consecutive gains. The HSI opened 90 points higher and has risen 223 points at mid-day. The rally continued in the afternoon, with the HSI closing at 16,211 today, up 312 points or 2.0%. The HSTECH reported at 3,310, up 29 points or 0.9%. The HSCEI rose 115 points, or 2.2%, to 5,468. The market turnover was HK$132.09bn. The central government intends to relax commercial property loans, and mainland property stocks generally rose, ranging from 8.1% to 17.2%. The SASAC said yesterday that it would study the inclusion of market value management in the performance evaluation of central enterprise leaders. The " China's special valuation" concept stock rose. The share prices of CNOOC (0883), Sinopec (0386) and PetroChina (0857) rose by 4.8%, 7.3% and 8.0% respectively.

Source: KGI Asia Investment Strategy

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