Market Insight

US stocks did well last night. The Hang Seng Index opened 79 points lower and opened at 20,811. The decline expanded to 285 points and closed at 20,604 point. The H-Share fell 75 points to 7,103 point; the HSTECH Index fell 8 points to 4,568 points. Half-day market turnover was HK$ 45.6 bn. China Railway (390) retreated 4.4% to HK$ 4.7 after Li Keqiang stated that China would not introduce “super-large” stimulus measures for the excessive growth target and ex-dividend yesterday. In addition, ZA Online (6060) announced a profit warning, loss up to RMB 750 mn for the first half of the year, fell 11.9% to HK$19.82

Source: KGI Asia Investment Strategy

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