Market Insight

Market Roundup

Driven by financial sector today, the Hang Seng Index performed well. The HSI opened 65 points higher and expanded the rise to 158 points or 0.8% and closed at 19,108 points; the HSCEI rose 35 points or 0.6% to close at 6,463; the HSTECH rose 16 points or 0.4% to close at 3,840. The total daily turnover of the market was HK$99.9bn. Financial sector supported the market. HSBC (0005) and HSB rose 1.6% and 2.7% respectively. OPEC+ extended the production reduction. Saudi Arabia announced to cut daily production further 1mn barrels in July. CNOOC (0883) and PetroChina (0857) rose 0.5% and 0.8% respectively.

Source: KGI Asia Investment Strategy

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