Market Insight

Market Roundup

Yesterday, the February PPI announced by the United States hit the largest increase in half a year, much higher than expected, dragging down the performance of U.S. stocks. The Hang Seng Index fell 241 points, or 1.4%, to 16,721 points throughout the day; the China National Index fell 86 points, or 1.4%, to 5,820 points; the Hang Seng Technology Index fell 54 points, or 1.5%, to 3,550 points. The total daily turnover of the market was HK$139.1 billion. Chinese technology stocks generally fell, with Tencent (0700) and Alibaba (9988) falling 1.9% and 2.1% respectively. In February, the price index of new commercial housing in 70 large and medium-sized cities fell 0.3% month-on-month. Mainland property stocks fell back, with Longfor (0960) and SEAZEN (1030) falling 3.5% and 2.7% respectively.

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.