Market Insight

Market Roundup

The Hang Seng Index opened slightly lower by 24 points in the early session, opening at 19,228 points, once extended its decline to a maximum of 164 points. The market closed up 47 points or 0.2% at 19,299 points; The China Enterprises Index was flat at 6,540 points; the Hang Seng Technology Index fell 27 points or 0.7% to 3,894 points. The market turnover was HK$ 84.5 bn. Ctrip (9961)'s first-quarter results beat market expectations, and its stock price rose 5.1% to HK$282.4. The shipping freight index showed signs of recovery, and shipping stocks rebounded. Orient Overseas International (316) and COSCO Shipping Holdings (1919) rose 5% and 3.6% respectively.

Source: KGI Asia Investment Strategy

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