Market Insight

Market Roundup

The Golden Dragon China Index fell 3.3% yesterday, and Hong Kong stocks fell in morning. The HSI opened 189 points lower and fell 233 points in mid-day. However, the lost was gradually regained afternoon. The HSI closed at 18,952, down 63 points or 0.3% today; the HSTECH closed at 4,114, down 14 points or 0.3%; the HSCEI fell 18 points or 0.3% to 6,381. Market turnover was HK$111.7bn. Heavyweight stocks both recorded up and down, Tencent (0700) and Meituan (3690) fell 1.0% and 1.1%, while Alibaba (9988) and China Mobile (0941) rose 0.7% and 0.9% respectively. Domestic demand stocks were weak today, such as Tsingtao Brewery (0168) and Li Ning (2331) fell between 1.5% and 2.7%.

Source: KGI Asia Investment Strategy

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