Market Insight

Half Day Roundup

The Hang Seng Index opened 181 points lower, at 16,077 points, but its half-day decline expanded to 313 points, or 1.9%, to 15,764 points; the China National Index fell 117 points, or 2.2%, to 5,291 points; the Hang Seng Technology Index fell 86 points, or 2.7%, to 3,117 points. The total half-day turnover of the market was HK$50 billion. BYD (1211) last year's fourth quarter results were worse than expected, and its stock price fell more than 5%. Evergrande (3333) was ordered by the High Court to enter liquidation process and continue to be suspended from trading. Evergrande VEHICLE (708) and Evergrande SERVICES (6666) resumed trading. The former rose 4.8%, while the latter fell 1.3%.

Source: KGI Asia Investment Strategy

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