Market Insight

Market Roundup

There is progress on the US debt ceiling issue. US stocks performed well last night. The Hang Seng Index opened 141 points higher at 19,703 points, and slightly extended its gains to 166 points at 19,727 points. The China Enterprises Index rose 79 points or 1.2% to 6,715 point; the Hang Seng Technology Index rose 47 points or 1.2% to 3,917 point. The market turnover was HK$ 98.6 bn. Alibaba (9988) rose 2.7% to HK$87.75 before the earning release. Hua Hong Semiconductor (1347) The stock price rose 7.2% to HK$27.5 after its application for listing on the SSE STAR Market was approved. SMIC (981) rose 2.9% to HK$21.

Source: KGI Asia 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.