Market Roundup

Half Day Roundup

The Hang Seng Index opened 44 points lower today at 17,194 points. By midday, the decline had expanded to 200 points or 1.2%, closing at 17,038 points. The HSCEI Index fell by 84 points or 1.4%, closed at 5,996 points. The Hang Seng Tech Index dropped 47 points or 1.3%, closed at 3,419 points. The total market turnover for the first half of the day was HKD 45.3 billion. Mengniu (2319) had its target price lowered to HKD 13 by JPMorgan Chase, causing its stock price to drop 6.9% to HKD 12.56. Oil stocks were under pressure, with PetroChina (857) and CNOOC (883) dropped 3.7% and 3.1% respectively. Standard Chartered (2388) fell 0.8% to HKD 23.35 before earnings announcement released.

Source: KGI Asia Investment Strategy

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