Market Roundup

The China Securities Regulatory Commission (CSRC) has clearly stated that the market value of A-shares held by public funds will increase by at least 10% annually over the next three years, promoting long-term capital inflows. The Hang Seng Index rose by 47 points or 0.2% to 19,826 points at midday; the China Enterprises Index rose by 32 points or 0.5% to 7,209 points; and the Hang Seng Tech Index rose by 4 points or 0.1% to 4,585 points. The total market turnover at midday was HKD 74.571 billion. Insurance stocks led the gains, with PICC (1339) up 5.7% and China Life (2628) up 3%. On the other hand, Country Garden (2007) continued to decline for the third day after resuming trading, falling by 13%.

Source: KGI Investment Strategy

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