Market Roundup

Half Day Roundup

The PBOC has launched a series of measures to support the economy. The Hang Seng Index opened 327 points higher in the morning at 18,574 points, rose 598 points or 3.3% in half a day to 18,845 points; the HSCEI Index rose 252 points or 3.9% to 6,641 points; the Hang Seng Technology Index rose 155 points or 4.2% to 3,853 points. The total half-day turnover of the market was HK$117.9 billion. The market turnover increased significantly, with the share price of Hong Kong Stock Exchange (388) rose 5.7% to HK$254.8. China property developer stocks surged, with R&F (2777) and KWG Group (1813) rose 13.3% and 10.9% respectively. The People's Bank of China said it would lower the deposit reserve ratio by 0.5 percentage points in the near future. Chinese banking stocks also performed well, with China Merchants Bank (3968) and Bank of Communications (3328) rose 9% and 5.6% respectively.

Source: KGI Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.