Market Insight

Half Day Roundup

US stocks fluctuated last night amid rumors that Biden had withdrawn from the presidential election. The Hang Seng Index opened 174 points lower at 17,604 points, the half-day decline expanded to 376 points or 2.1%, to 17,402 points; the HSCEI fell 144 points or 2.3% to 6,162 points; the Hang Seng Technology Index fell 64 points or 1.8% to 3,548 points. The total half-day turnover of the market was HK$55.6 billion. China property developer and material stocks were under pressure today, with China Resources Land (1109) and Longfor (960) fell more than 5%; China Hongqiao (1378) fell 5.5%.

Source: KGI Asia Investment Strategy

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