Market Roundup

Market Roundup

The DXY index continued to fall, driving the RMB to rebound, and Hong Kong stocks benefited. The Hang Seng Index opened 154 points higher, at 17,932 points, but fell 44 points, or 0.2%, to 17,734 points at market close. The China National Index fell 27 points, or 0.4%, to 6,077 points. The Hang Seng Technology Index fell 40 points, or 1%, to 4,037 points. The total daily turnover of the market was HK$107.2 billion. The news on Chinese property developer continued to ferment, with Longfor (960) leading the market and rising 4.7%. After Ctrip (9961) announced its quarterly results, its stock price fell 1.7% to HK$275.6.  Xiaomi (1810) announced its results, its stock price fell 4.9% to HK$15.38.

Source: KGI Asia Investment Strategy

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