Market Insight

Half Day Roundup

The three major U.S. stock indexes closed up. The Hang Seng Index opened 64 points lower at 19,852 points. The trend fell by as much as 406 points. It fell 100 points or 0.5% in half a day to 19,815 points. The China Enterprises Index fell 69 points or 1% to 6,726 points; The Hang Seng Technology Index fell 73 points, or 1.7%, to 4,151 points. The market turnover was HK$75.3 bn. China National Building Materials Group (3323) fell 8.9% to HK$6.3 after the announcement of its results. Although the performance of Meituan (3690) was better than expected, the stock price was still under pressure and fell 4.3% to HK$134.1.

Source: KGI Asia Investment Strategy

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