Market Roundup

Half Day Roundup

The Hang Seng Index opened 185 points higher and once rose 496 points to reach 20,783 points. By midday, it was up 174 points or 0.86%, at 20,460 points. The HSCEI Index rose 68 points or 0.95%, to 7,336 points. The Hang Seng Tech Index increased by 60 points or 1.3%, to 4,462 points. The total market turnover for the half-day was HKD 107.746 billion. Despite the Ministry of Housing and Urban-Rural Development holding a press conference, property developer stocks were under pressure. Vanke (2202) and Longfor (960) fell by 10.6% and 8.7% respectively, while Sunac China (1918), which offered shares at nearly a 20% discount, plunged 21%.

Source: KGI 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.