Market Roundup

Half Day Roundup

U.S. stocks did well last night. The Hang Seng Index opened 58 points higher at 17,298 points and rose 167 points or 1% in half a day to 17,408 points; the HSCEI Index rose 62 points or 1% to 6,080 points; the Hang Seng Technology Index rose 25 points or 0.7% to 3,501 points. The total half-day turnover of the market was HK$51.98 billion. Gold prices hit a new high, with Zijin Mining (2899) rising nearly 5%. It is rumored that existing mortgage interest rates will be lowered as soon as this month. Chinese property developer stocks performed well, with Longfor (960) rising 4.4%. Midea IPO was over-subscribed, and the share price of peer Haier Smart Home (6690) rose 3.7%.

Source: KGI Investment Strategy

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