Market Insight

Market Roundup

The Hong Kong stock market continued to be weak before the holidays. The Hang Seng Index opened 44 points lower today, at 20,364 points. It once fell as much as 282 points, and then narrowed the decline. It closed down 135 points or 0.7% at 20,274 point; The China Enterprises Index fell 65 points or 0.9% to 6,875 points; the Hang Seng Technology Index fell 69 points or 1.6% to 4,233 point. The market turnover was HK$119.4 bn. Chinese technology stocks generally fell today, Tencent (0700) and Alibaba (9988) fell 0.8% and 2.9% respectively. Mainland sporting goods stocks were under pressure, Li Ning (2331) and Anta (2020) fell 4.4% and 2.2%.

Source: KGI Asia Investment Strategy

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