Market Insight

Market Roundup

The U.S. ADP employment data was worse than expected, and U.S. stocks closed low. The Hang Seng Index opened 87 points lower  at 16,376 points. Hong Kong stocks reached year low today, with the Hang Seng Index falling 241 points, or 1.4%, to 16,222 points for the first half. The H-Share Index fell 96 points, or 1.7%, to 5,567 points; the Hang Seng Technology Index fell 67 points, or 1.8%, to 3,680 points. The total half-day turnover of the market was HK$44.6 billion. Hong Kong Stock Exchange (388) followed the weakness of Hang Seng Index, and its stock price fell 3.5% to HK$247.8. In addition, the decline of WuXi Biologics (2269) continued , fell 4.9% to HK$29.2.

Source: KGI Asia Investment Strategy

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