Market Insight

Market Roundup

The Hang Seng Index opened 28 points lower at 20,859 points, and extended its daily decline to 357 points and closed at 20,529 point. The China Enterprises Index fell 139 points or 1.9% to 6,925 point; the Hang Seng Technology Index fell 153 points or 3.5% to 4,158 point. The market turnover was HK$111.2 bn. HSBC (0005) fell nearly 2% to HK$57.6 after the results. Chinese telecommunications stocks continued to perform well. China Unicom (0762) and China Telecom (0728) rose 2.5% and 0.5% respectively. The stock price of JD.com (9618) fell 8.5% to HK$189.7.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.