Market Insight

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

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.