Market Roundup

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

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