Market Insight

Market Roundup

The Hang Seng Index continued its correction today. The Hang Seng Index opened 53 points lower at 18,424 points. The full-day decline expanded to 246 points, or 1.3%, to 18,230 points; HSCEI Index fell 94 points, or 1.4%, to 6,463 points; the Hang Seng Technology Index It fell 12 points or 0.3% to 3,753 points. The total market turnover for the whole day was HK$125.5 billion. Gold stocks fell sharply today, with Zijin (2899) and Zhaojin (1818) falling 5.4% and 3.5% respectively. China's chip stocks rallied, with Semiconductor Manufacturing International Corporation (981) and Hua Hong Semiconductor (1347) rising 4.8% and 3.9% respectively.

Source: KGI Asia Investment Strategy

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