Market Roundup

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

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