Market Roundup

Half Day Roundup

After rising for several days, the Hang Seng Index retreated significantly today. The Hang Seng Index opened 41 points higher, at 22,484 points, and fell 700 points, or 3.1%, in half a day, to 21,743 points; the HSCEI Index fell 276 points, or 3.4%, to 7,764 points; the Hang Seng Technology Index fell 267 points, or 5.2%, to 4,889 points. The half-day turnover of the market was HK$180.8 billion. Alibaba (9988), Baidu (9888) and Kuaishou (1024) fell between 5.7% to 6.3%. Mainland property developer stock, which has been heavily supported by policies, has retreated today after experiencing a sharp rise. Longfor (960) fell by more than 10%.

Source: KGI Investment Strategy

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