Market Insight

Market Roundup

The Hang Seng Index opened 131 points higher this morning, at 18,669 points, and rose 426 points, or 2.3%, to 18,964 points throughout the day; the HSCEI Index rose 158 points, or 2.4%, to 6,719 points; the Hang Seng Technology Index rose 15 points, or 0.4%, to 3,962points. The total daily turnover of the market was HK$171 billion. Benefiting from rumors that China intends to exempt mainland investors who purchase Hong Kong stocks through Southbound Trading and receive dividends from paying the 20% dividend income tax to the mainland government, the Hong Kong Stock Exchange (388) rose 7.6%; other traditional dividend earners Sector stocks also benefited, with China Construction Bank (939) rising 6.8% and China Shenhua (1088) rising 6.1%.

Source: KGI Asia Investment Strategy

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