Market Roundup

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

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