Market Insight

Market Roundup

U.S. stocks performed well last night, but the Hang Seng Index opened 139 points lower and closed at 20,643 points. After China’s first-quarter GDP was announced earlier than expected, the index’s decline was once narrowed, but the Hang Seng Index still fell 132 points or 0.6% 20,651 point at market close; The China Enterprises Index fell 53 points or 0.7% to 7,003 point; the Hang Seng Technology Index fell 51 points or 1.2% to 4,203 point. The market turnover was HK$ 109.7 bn. Anta (2020) placed shares at a discount, and its stock price fell by more than 7.4% to HK$100.7. On the other hand, domestic insurance stocks performed well. China Life Insurance (2628) was the best blue chip stock of the day,its share price rose by more than 2.7%.

Source: KGI Asia Investment Strategy

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