Market Insight

Market Roundup

US stocks closed higher last night. Hong Kong stocks opened 54 points lower at 17,680 points. The market closed rose 176 points or 1% to 17,911 points. The H-Share Index rose 96 points, or 1.6%, to 6,171 points. The Hang Seng Technology Index rose 87 points, or 2.1%, to 4,117 points. The total daily turnover of the market was HK$97.7 billion. Baidu (9888) continued yesterday's upward momentum, with its share price rose 6.8% to HK$119.8. In addition, momentum of Chinese property developer continued, with Longfor (960) and Country Garden (2007) rose 13.4% and 23.5% respectively.

Source: KGI Asia Investment Strategy

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