Market Roundup

Market Roundup

The minutes of the Federal Reserve’s June meeting released on Wednesday showed that almost all members supported the resumption of interest rate hikes at future meetings. US stocks closed down last night. The Hang Seng Index opened 270 points at 18,840 point. The Index closed 577 points, or 3% lower at 18,533 point. The Hang Seng Technology Index fell 68 points, or 1.7%, to 3,949 point. HSCEI fell 221 points or 3.4% to 6,269 point. Market turnover was HK$ 97.3 bn. Most of the Hang Seng Index constituent stocks closed low, only Xiaomi (1810) rose 0.2% and BYD (1211) rose 0.1%.

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.