Market Insight

Market Roundup

The U.S. ADP employment data was worse than expected, and U.S. stocks ended lower. The Hang Seng Index opened 87 points lower at 16,376 points. Hong Kong stocks reached year low today, with the Hang Seng Index falling 117 points, or 0.7%, to 16,346 points. The H-Share Index fell 48 points, or 0.8%, to 5,616 points; the Hang Seng Technology Index fell 27 points, or 0.7%, to 3,720 points. The total daily turnover of the market was HK$89 billion. The Hong Kong Stock Exchange (388) followed the weakness of the Hang Seng Index, and its stock price fell 2.3% to HK$250.8. In addition, the decline of WuXi Biologics (2269) continued, fells another 2.4% today to HK$29.95.

Source: KGI Asia Investment Strategy

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