Market Roundup

The market is waiting to see the National People's Congress meeting to be held soon. Hong Kong stock market fluctuated today. After opening 2 points higher, the HSI fell 161 points, and then gradually recovered its losses, falling 43 points or 0.2% at mid-day to 20,546; the HSCEI fell 13 points, or 0.2%, to 7,372; the HSTECH rose 28 points or 0.6%, reported at 4,566. The total mid-day market turnover was HK$76.87bn. Evergrande Automobile’s (0708) Discussions on potential share transfers were terminated, and the stock price fell by more than 10%. The market is speculating on the restructuring of the mainland steel industry, with MAANSHAN IRO (0323) and ANGANG STEEL (0347) rising 13% and 9% respectively.

Source: KGI Investment Strategy

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