Market Insight

Market 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US stocks fluctuated last night amid rumors that Biden had withdrawn from the presidential election.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 day's decline expanded to 360 points, or 2%, to 17,417 points; the HSCEI fell 142 points, or 2.2%, to 6,165 points; the Hang Seng Technology Index fell 76 points, or 2.1% at 3,536 points. The total daily turnover of the market was HK$102 billion. China property developer and material stocks were under pressure today, with China Resources Land (1109) and Longfor (960) fell 5.7% and 5.9% respectively; China Hongqiao (1378) fell 5.9%.

Source: KGI Asia Investment Strategy

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