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 then extended its decline. The index fell 233 points or 1.2% in mid-day to 18,782; the HSCEI fell 83 points or 1.3% to 6,316; the HSTECH fell 70 points or 1.7% to 4,058. The market's mid-day turnover totaled HK$55.0bn. Heavyweight stocks generally fell. Share prices of Tencent (0700), Alibaba (9988) and Meituan (3690) fell 2.1%, 0.9% and 2.4% respectively. Domestic demand stocks were weak today, such as Tsingtao Brewery (0168) and Li Ning (2331) fell between 2.1% and 4.1%.

Source: KGI Asia Investment Strategy

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