Market Insight

Market Roundup

The Federal Reserve announced that interest rates in November would remain unchanged at 5.25-5.50%, in line with market expectations. The Hang Seng Index opened 204 points higher to 17,282 points. The index once rose 357 points. The Hang Seng Index's full-day gain narrowed to 129 points, or 0.8%, to 17,230 points; the H-Share Index rose 51 points, or 0.9%, to 5,911 points; the Hang Seng Stock Index rose 51 points, or 0.9%, to 5,911 points. It rose 61 points or 1.6% to 3,813 points. The total daily turnover of the market was HK$71.1 billion. The rise of Xiaomi (1810) is not over yet, with its stock price rising 6% to HK$15.08. Yum China (9987) continued yesterday's decline and fell another 1.7% today to HK$350.

Source: KGI Asia Investment Strategy

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