Market Insight

Half Day Roundup

U.S. stock market fell last night after higher-than-expected Jan’s CPI figures announced. Hong Kong stock market opened lower and moved higher today. The HSI fell 290 points in the morning and then rebounded, rising 23 points or 0.2% in mid-day to 15,769; the HSCEI rose 33 points or 0.6% to 5,340; the HSTECH rose 40 points or 1.3% to 3,167. The total mid-day turnover of the market was HK$31.79bn. China South City (1668) is expected to trigger a note default, and its stock price fell 34% at mid-day. Chinese tech stocks performed well, with share prices rising between 0.9% and 4.8%.

Source: KGI Asia Investment Strategy

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