Market Roundup

Half Day Roundup

U.S. stocks were closed for the U.S. Labor Day holiday on Monday, and Hong Kong stocks fell in morning trading. The Hang Seng Index opened 26 points lower, opening at 17,666 points, and closed at 17,627 points in the first half of the day, down 65 points or 0.4%. The HSCEI Index fell 20 points or 0.3% to 6,191 points. The Hang Seng Tech Index was at 3,496 points, up 10 points or 0.3%. The total half-day turnover of the market was HK$45.9 billion. New World (17) continued its decline, falling another 2.3%. The market was worried that the net interest margin of Chinese banking would further narrow, and Chinese banking stocks suffered a setback. China Merchants (3968) fell 3.3%, Industrial and Commercial Bank of China (1398) fell 2.5% and Bank of China (3988) fell 1.7%.

Source: KGI Investment Strategy

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