Market Insight

Market Roundup

The market is waiting for Federal Reserve's interest rate meeting this week. The Hang Seng Index opened 173 points lower and then narrowed its losses. It rose 7 points to 17,406 point at market close. The H-Share Index fell 19 points, or 0.3%, to 5,960 points. The Hang Seng Technology Index rose 48 points or 1.2% at 3,854 points. The market turnover was HK$92.5 bn. Numbers of Chinese banks announced results that were worse than expected. The Chinese banking sector under pressure, with share prices falling between 1% and 4%. WuXi Biologics (2269)'s spin-off from WuXi Alliance passed the listing hearing. WuXi Biologics and its sister WuXi AppTec (2359) rose 5.7% and 4.1%.

Source: KGI Asia Investment Strategy

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