Market Insight

Market Roundup

U.S. stocks were closed for the Thanksgiving holiday on Thursday. Hong Kong stocks opened 140 points lower opening at 17,771 points. The full-day decline further expanded to 351 points, or 1.9%, to 17,559 points. The H-Share Index fell 129 points, or 2.1%, to 6,041 points. The Hang Seng Technology Index fell 92 points, or 2.2%, to 4,024 points. The total daily turnover of the market was HK$88.1 bn. Chow Tai Fook (1929), whose stock price was under pressure due to performance factors, fell 10.8% to HK$10.7. In addition, as the market digested the news of Chinese property developer, Country Garden (2007) and Longfor (960) fell 7.6% and 2.4%.

Source: KGI Asia Investment Strategy

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