Market Insight

Market Roundup

Markets await the coming results of FOMC meeting. DJIA fell 367 points or 1.1% yesterday, while Hong Kong market fell this morning following global market. The HSI fell 348 points or 1.8% in mid-day and recovered part of the loss afterwards. The HSI closed at 19,699, down 234 points or 1.2%. The HSTECH closed at 3,835, down 63 points or 1.6%. The HSCEI fell 90 points, or 1.4%, to 6,589. Market turnover was HK$66.25bn. HSBC (0005)'s quarterly results beat consensus and its share price rose yesterday. It fell first and then rebounded today. It closed up 0.34% at HK$58.85. For other financial stocks, Standard Chartered (2888) and HKEx (0388) fell 1.22% and 0.74% respectively. China Tech stocks were generally down. Tencent (0700) and Alibaba (9988) fell 1.85% and 2.37% respectively.

Source: KGI Asia Investment Strategy

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