Market Insight

Market Roundup

On the settlement day of the Hang Seng Index futures, the index opened slightly lower by 21 points to 19,736 points, and the trend turned upwards, rising 16 points or 0.1% in half a day to close at 19,773 points. The China Enterprises Index fell 13 points or 0.2% to 6,641 points; the Hang Seng Technology Index fell 32 points or 0.8% to 3,839 points. The half-day market turnover shrank to HK$48.3 bn. China Merchants Bank (3968) fell 6.2% to HK$37.1 after announcing its quarterly results. Hong Kong Broadband (1310), which also announced the quarterly earnings, dropped 92.4% in its interim net profit, and its stock price fell 8.5% to HK$5.48. Ping An Insurance(2318) rose 6.1% to HK$54.7, being the best performing blue chip stock.

Source: KGI Asia Investment Strategy

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