Market Insight

Market Roundup

U.S. stocks closed down last night. The Hang Seng Index opened 58 points higher at 18,852 point, the day-to-day increase expanded to 354 points or 1.9% to 19,148 point; The China Enterprises Index rose 132 points or 2.1% to 6,505 point; the Hang Seng Technology Index rose 100 points or 2.6% to 3,972 point. The market turnover was HK$ 91.7 bn. Chow Tai Fook Enterprises intends to acquire NWS (659), its share price rose 11.4% to HK$8.9. In terms of sectors, mainland property developer rallied. Country Garden (2007) rose nearly 7.1%, Longfor (960) rose more than 8.2%, and Country Garden Services (6098) rose more than 11.3%.

Source: KGI Asia Investment Strategy

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