Market Roundup

The Hang Seng Index closed at 23,387 points at midday, down 517 points or 2.2%. The Hang Seng Tech Index reported 5,534 points, down 202 points or 3.5%. The China Enterprises Index fell 216 points or 2.4% to 8,634 points. The turnover was HKD 184.5 billion. Now is the peak season of earnings release of the Hong Kong stocks, and individual stocks moves based on their earnings result. BYD Electronic (285) fell 9.7% to HKD 42.4, Sunny Optical (2382) dropped 8.4% to HKD 78.4, and Xiaomi (1810) fell 5.4% to HKD 53.9 due to a 6.6% discount on its new share placement.

Source: KGI 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.