Market Roundup

Market Roundup

Biden said he would hold a press conference on the debt limit issue on Sunday, and U.S. stocks rose last night. However, the Hang Seng Index opened 192 points lower, opened at 19,535 points, extended its decline to 374 points at most, and closed at 19,451 points, down 277 points; The China Enterprises Index fell 122 points, or 1.8%, to 6,594 points; the Hang Seng Technology Index fell 95 points, or 2.4%, to 3,822 points. The market turnover was HK$ 95.2 bn. After Alibaba (9988) announced its quarterly results last night, its share price retreated 6% today to HK$82.45. China Mobile (941) rose 1.2% to HK$66.4.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.