Market Insight

Market Roundup

The profit growth rate of Chinese industrial enterprises slows. The Hang Seng Index opened 144 points lower at 17,946 points. The decline significantly expanded to 373 points for the whole day, to 17,716 points; the HSCEI Index fell 153 points, or 2.4%, to 6,324 points; the Hang Seng Technology Index fell 101 points or 2.7%, reported at 3,589 points. The total daily turnover of the market was HK$104.2 billion. Consumer stocks continued to underperform, with TINGYI (322), Nongfu Spring (9633) and Haier Smart Home (6690) fell 6.5%, 7.3% and 5.4% respectively. Telecom stocks rose against the Hang Seng Index today, with China Unicom (762) and China Mobile (941) rose1.3% and 0.6% respectively.

Source: KGI Asia Investment Strategy

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