Market Insight

Half Day Roundup

The market's worries about banks eased, and U.S. stocks performed well. The Hang Seng Index opened 121 points higher at 19,688 points. The index once turned down but was able to recover and rebounded. It rose 140 points or 0.7% in half a day to 19,707 points; The China Enterprises Index rose 47 points or 0.7% to 6,695 point; the Hang Seng Technology Index rose 21 points or 0.5% to 4,127 point. The half-day market turnover was HK$51.9 bn. Tingyi (322)'s full-year net profit fell 30.8%, and its share price fell 11.3% to HK$12.58. Link REIT (823)'s rights shares were oversubscribed, and its share price fell 0.9% to HK$49.9.

Source: KGI Asia Investment Strategy

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