Market Roundup

Market Roundup

China's July exports in US dollar terms rose 7% less than consensus. Hong Kong stock market rose along with Asia-Pacific stock markets today. The HSI opened 37 points higher and expanded its gains, rising 230 points or 1.4% today to close at 16,877; the HSCEI rose 80 points or 1.4% to close at 5,933; the HSTECH rose 39 points or 1.2% to close at 3,382. The total daily market was HK$95.66bn. New Oriental (9901) announced an increase in repurchases to US$700mn and recommended a special dividend, with the stock price at 6.3%. Utility stocks continued to perform well, benefiting from expectations of rate cuts. The share prices of Electric Power (0006) and Cheung Kong Infrastructure (1038) rose 3.8% and 2.4% respectively.

Source: KGI Investment Strategy

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