Market Roundup

Half Day Roundup

China's major figures for February were better than expected, but Hong Kong stock market fluctuated today. After opening 30 points lower, the HSI fell 79 points in the morning and then bottomed out, remaining flat at 16,720; the HSTECH rose 17 points, or 0.5%, to 3,566; the HSCEI rose 15 points, or 0.3%, to 5,836; the total mid-day turnover of the market was HK$55.93bn. HK property stocks were generally weak, with SHKP (0016) and Henderson Land (0012) falling 2.5% and 5.8% respectively. It was rumored that Alibaba (9988) sold Freshippo and RT-Mart to COFCO, but this was later officially denied. Alibaba's share price fell 0.1%.

Source: KGI Asia Investment Strategy

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