Market Roundup

Half Day Roundup

U.S. data showed that the housing market and consumption data turned hot, and U.S. stocks suffered setbacks. As for the Hong Kong stock market, the news that Alibaba (9988) intends to turn into a holding company, the Hang Seng Index opened 564 points higher at 20,349 point, and rose 378 points or 1.9% in half a day to 20,163 point; the China Enterprises Index rose 142 points or 2.1%. , at 6,872 point; the Hang Seng Technology Index rose 113 points, or 2.7%, to 4,257 points. The market's half-day turnover was HK$82.8 bn. Ali’s rallied, Alibaba (9988) and Ali Health (241) rose 13% and 5.7% respectively.

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.