Market Roundup

Market Roundup

A-shares resumed trading after the Lunar New Year holiday while Foreign media reported that the PBOC may lower the LPR tomorrow. However, Hong Kong stocks fell today. After opening 5 points lower, the HSI once fell 201 points. The index fell 184 points or 1.1% to close at 16,155 today; the HSCEI fell 73 points or 1.3% to close at 5,484; the HSTECH fell 89 points or 2.7% to close at 3,253. The total daily turnover of the market was HK$82.09bn. The CIH said that the average daily transaction area of first-hand housing during the Spring Festival holiday fell by about 27% yoy. Mainland property sector generally fell, with the decline ranging from 4.0% to 6.3%. Domestic demand stocks were weak today, with Li Ning (2331) falling 8.6%, becoming the worst-performing blue-chip stock.

Source: KGI Asia Investment Strategy

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