Market Insight

Market Roundup

Affected by the rating agency Fitch’s downgrade of the U.S. credit rating, global stock markets fell yesterday. The Hang Seng Index opened 113 points lower today to 19,404 points, and fell 97 points or 0.5% to 19,421 points throughout the day; The H-Share Index fell 17 points or 0.2% to 6,652 points; the Hang Seng Technology Index rose 18 points or 0.4% to 4,406 points. The market turnover was HK$ 101.2 bn. Country Garden Services (6098) ) softened today after rebounding sharply yesterday and fell 2.5% to HK$9.66. Evergrande Property (6666) resumed trading, share price fell 47% to HK$1.21. Budweiser Asia Pacific (1876) announced its first-half results. The profit fell 8%, and the stock price fell 4%.

Source: KGI Asia Investment Strategy

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