Market Insight

Market Roundup

The Hang Seng Index opened 169 points lower, at 15,709 points, and fell 131 points, or 0.8%, in half a day, to 15,746 points; the China National Index fell 53 points, or 1%, to 5,306 points; the Hang Seng Technology Index fell 41 points, or 1.3%, to 3,127 points . The total half-day turnover of the market was HK$31.3 billion. Shipping and mainland property developer stocks were under pressure today, with Orient Overseas International (316) falling 8.5% and Longfor (960) falling 6.7%. Today, sporting goods stocks outperformed the market, with Anta (2020) and Li Ning (2331) rising 1.6% and 0.3% respectively. On the last trading day of the Year of the Rabbit, the market will be closed in the afternoon.

Source: KGI Asia Investment Strategy

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