Market Insight

Half Day Roundup

Some U.S. officials said that interest rates may not need to be cut this year, and the three major U.S. stock indexes closed lower. The Hang Seng Index opened 63 points higher in the early morning at 16,788 points, the index weakened and closed down 119 points at half-day close at 16,606 point; the H-Share Index fell 65 points or 1.1% to 5,810 points; the Hang Seng Technology Index fell 44 points or 1.3 %, reported 3,417 points. The total half-day turnover of the market was HK$42.2 billion. WuXi continued to be under pressure, with WuXi AppTec (2359) and WuXi Biologics (2269) falling 5.8% and 4.5% respectively.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.