Market Roundup

Market Roundup

The Hong Kong stock market continued to decline today. The Hang Seng Index opened 57 points lower and then expanded its decline. It fell 342 points or 1.7% to 19,618 point; the China Enterprises Index fell 132 points or 2% to 6,601 point; the Hang Seng Technology Index fell 137 points or 3.5%, to 3,824 point. The market's turnover was HK$ 106.7 bn. Technology stocks continued to be the hardest hit. Meituan (3690) fell 4.4%, and JD.com (9618) fell 4.1% to HK$132.7, falling below its October low. Some sectors continue to rose while index poorly performed. For example, China CITIC Bank (998) and Postal Savings Bank of China (1658) rose 3.4% and 2.4% respectively.

Source: KGI Asia Investment Strategy

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