Market Roundup

Market Roundup

China August CPI and PPI were both worse than the market consensus and Asia-Pacific markets fell generally. Hong Kong stock market followed to fall today. The HSI opened 182 points lower and then expanded its losses, falling 247 points or 1.4% today to close at 17,196; the HSCEI fell 102 points or 1.7% to close at 6,002; the HSTECH fell 51 points or 1.5% to close at 3,436. The daily market turnover was HK$133.67bn. The CIH said residents' sentiment for property market declined in August, and mainland property stocks generally fell, with losses ranging from 4.8% to 9.2%. Domestic demand stocks generally declined, with Haier Smart Home (6690) and Mengniu (2319) falling 4.7% and 3.4% respectively.

Source: KGI Investment Strategy

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