Market Roundup

Market Roundup

Hong Kong stock market fell repeatedly after rising for several days. After opening 31 points higher, the HSI rose 127 points and fell 165 points or 0.9% today to close at 18,313; the HSCEI fell 69 points or 1.1% to close at 6,456; the HSTECH fell 50 points or 1.3% to close at 3,872. The total daily turnover of the market was HK$128.7bn. Sales of the top 100 mainland real estate companies in April fell 13% MoM. Mainland real estate stocks generally fell. Longfor (0960), Sino-Ocean (3377) and Agile (3383) fell more than 10%. Budweiser Asia Pacific (1876) first quarter net profit fell more than 3%, share price fell 3.8%.

Source: KGI Asia Investment Strategy

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