Market Insight

Market Roundup

The market is waiting to see Fed Chairman Powell's speech at annual meeting in Jackson Hole. Hong Kong stocks first fell and then rebounded today. After opening 28 points lower, the HSI closed up 61 points or 0.3% at mid-day to 17,852; the HSCEI rose 22 points or 0.4% to 6,119; the HSTECH fell 2 points or 0.1% to 3,998. The total turnover in the half day was HK$42.54bn. Baidu (9888) and Kuaishou (1024) performed well in the second quarter, and their stock prices rose 4.4% and 1.4% respectively today. The domestic media published an article stating that "housing should not for speculation" must be maintained for a long time. Mainland property stocks generally fell, KWG (1813) fell nearly 3%.

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.