Market Insight

Market Roundup

The DXY index continued to rise, with the USD TO CNY at 7.32, dragging down the Hong Kong stock market's decline today. The Hang Seng Index opened 13 points lower and then extended its decline. It fell 175 points or 1% to 18,275 points. The H-Share Index fell 58 points, or 0.9%, to 6,345 points. The Hang Seng Technology Index fell 62 points, or 1.5%, to 4,115 points. The market turnover was HK$43.6 bn. U.S. Congressman states SMIC (981) violated sanctions, and the market was worried that the United States may further restrict SMIC. The stock price fell 5.1% to HK$20.35. In addition, oil prices continued to rise, PetroChina (857) and CNOOC (883) rose 2.4% and 1.8% respectively.

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.