Market Roundup

Half Day Roundup

The State Council Information Office held a press conference this morning but did not announce specific fiscal policy measures as expected by the market. The Hang Seng Index opened 250 points lower this morning at 22,849 points, the index's decline once expanded to 2,337 points. However, the half-day decline narrowed to 1,290 points, or 5.6%, to 21,810 points; the H-Share Index fell 510 points, or 6.1%, to 7,820 points; the Hang Seng Technology Index fell 424 points, or 7.9%, to 4,962 points. The total half-day turnover of the market was HK$384.7 billion. Longfor (960) and China Life (2628) were the worst-performing blue chips, fell 16.8% and 14.3% respectively.

Source: KGI Investment Strategy

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