Market Roundup

Market Roundup

Caixin reports that China’s Ministry of Finance may issue Rmb 6 trillion in ultra-long-term RMB bonds over three years to help local governments resolve debt. However, the Hang Seng Index still opened down 47 points at 21,046 points, and the full-day decline expanded to 774 points or 3.7%, closed at 20,319 points. The China Enterprises Index fell 302 points or 4%, closed at 7,278 points. The Hang Seng Tech Index dropped 217 points or 4.6%, closing at 4,451 points. The total market turnover for the day was HK$261.3 billion. China Resources Beverage (2460) started its IPO on the first day, but China Resources Beer (291), also part of the China Resources group, fell 12.9% for the day, closed at 29.45 HKD, making it the worst-performing blue-chip stock.

Source: KGI Investment Strategy

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