Market Insight

Half Day Roundup

The US dollar index continued to rise, and Hong Kong stock market fell today. The HSI opened 122 points lower and the decline intensified, falling 183 points or 1% at mid-day to 17,844; the HSCEI fell 72 points or 1.1% to 6,367 points; the HSTECH fell 65 points or 1.8% to 3,636. The total mid-day turnover of the market was HK$53.27bn. Haidilao (6862) announced a change in CEO, and its stock price fell 3.8% at mid-day. Midea Real Estate (3990) plans to divest its real estate development business and plan to distribute RMB 5.9 per share or in-kind distribution. Its stock price rose 69.1%.

Source: KGI Asia Investment Strategy

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