Market Insight

Market Roundup

Hong Kong stock market rose in mid-day driven by Chinese banking stocks and oil stocks performed well. The HSI rose 149 points or 0.75% in mid-day, and the increase continued to expand afternoon. The HSI closed at 20,297, up 247 points or 1.2%. The HSTECH closed at 3,914, up 18 points or 0.5%. The HSCEI rose 99 points, or 1.5%, to 6,897 points. Market turnover was HK$108 bn. China banking stocks generally performed well. Bank of Qingdao (3866) and China CITIC Bank (0998) rose 7.2% and 6.0% respectively. China broker sector also benefited from the rise in A-shares, of which GF Securities (1776) and CGS (6881) rose 4.6% and 4.9% respectively.

Source: KGI Asia Investment Strategy

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