Market Insight

Half Day Roundup

After Alibaba (9988) announced that it would spin off its business, JD.com (9618) also said yesterday that it intends to spin off subsidiaries and go public in Hong Kong. The Hang Seng Index opened 275 points higher at 20,584 points, rose 171 points or 0.8% in half a day to 20,480 point; the China Enterprises Index rose 74 points or 1.1% to 6,997 point; the Hang Seng Technology Index rose 32 points or 0.7% to 4,302 point. The half-day market turnover was HK$78.2 bn. News of the spin-off of JD.com (9618) drove its share price up 7% to HK$174.6. NAYUKI (2150) narrowed its loss to Rmb470 mn, and its share price rose 15% to HK$8.35.

Source: KGI Asia Investment Strategy

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