Market Roundup

Market Roundup

The three major U.S. stock indexes rebounded yesterday. The Hang Seng Index opened 76 points higher. It rose 241 points in the early session and once reached a peak of 20,185 points. Then it fell by 157 points and closed at 19,786 point; the H-Share Index fell 89 points or 1.3% to 6,581 point; the Hang Seng Technology Index fell 65 points or 1.6% to 3,925 point. The market turnover was HK$142.4 bn. China Telecom stocks were favored, China Telecom (0728) and China Unicom (0762) rose 2.6% and 5.3% respectively. Financial stocks also performed well today. AIA (1299) and HSBC (0005) rose 1.3% and 0.4% respectively.

Source: KGI Asia Investment Strategy

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