Market Roundup

Half Day Roundup

Hong Kong stock market rose in line with the global market today. The HSI opened 175 points higher and then expanded its gains, rising 309 points or 1.8% at mid-day to 17,331; the HSCEI rose 109 points or 1.8% to 6,120; the HSTECH rose 61 points or 1.8%, reported 3,505. The total mid-day market turnover was 45.58bn. Chinese banks and insurance stocks performed well, with China CCB (0939) and BOC (3988) rising 1.5% to 2.0% respectively. HSBC (0005) and Hang Seng (0011), which are about to announce their results, rose 1.3% and 2.3% at mid-day. Evergrande Automobile (0708)'s two subsidiaries were filed for bankruptcy reorganization by creditors, and the stock price fell 7.5%.

Source: KGI Asia Investment Strategy

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