Market Insight

Market Roundup

After opening 88 points higher today, the HSI fell 116 points and then narrowed slightly. It closed at 16,729 at mid-day, down 101 points or 0.6%; the HSCEI fell 35 points or 0.6% to 5,726; the HSTECH fell 51 points or 1.3 %, reported at 3,779. The total mid-day turnover of the market was HK$61.74bn. The market is looking forward to the rate cut next year, and the gold price has reached a new high. The share price of gold mining stock Zijin (2899) rose 4.3% in mid-day. It was reported that many Chinese banks had not received the "whitelist", and Chinese developers CIFI (0884) and Longfor (0960) fell 5.1% and 1.3% respectively.

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.