Market Insight

Market Roundup

Hong Kong stocks held steady for half a day. The Hang Seng Index opened 12 points higher at 17,942 points and the market close rose 66 points at 17,997 point. The H-Share Index rose 26 points to 6,236 points. The Hang Seng Technology Index fell 2 points or 0.1% to 3,985 points. The market turnover was HK$76.2 bn. In terms of sector trends, Chinese banking stocks performed well today, with Agricultural Bank of China (1288) and China Construction Bank (939) rising 3.2% and 1.6% respectively. However, catering retail stocks performed poorly, with Haidilao (6862), China Resources Beer (291) and Li Ning (2331) falling 3.1%, 2% and 1.7% respectively. Yum China (9987) and Anta (2020), which are relatively strong in the catering and retail sectors, closed up 0.3% and 0.4% respectively today, in line with the market.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.