Market Roundup

Half Day Roundup

After opening 12 points higher this morning, the Hang Seng Index rose 98 points to a high of 17,555 points. However, the upward trend faced pressure. It closed at 17,376 points in half a day, down 80 points or 0.5%. The HSCEI Index fell 53 points, or 0.9%, to 6,080 points. The Hang Seng Tech Index fell 14 points, or 0.4%, to 3,468 points. The total half-day turnover of the market was HK$45.2 billion. Media reported that OPEC+ was close to reaching an agreement on postponing production increase in October, and PetroChina (857) fell 3.1%. It is rumored that the mainland is considering cutting existing mortgage interest rates by a total of 80 basis points in two stages. Mainland real estate stocks have performed well, with Sunac China (1918) and Vanke (2202) both rose by more than 2%.

Source: KGI Investment Strategy

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