Market Roundup

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

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