Market Insight

Half Day Roundup

The Hang Seng Index continued its uptrend and opened 168 points higher to 21,220 points. It once turned down in the half-day, but manage to maintain the gain of 110 points, half day closed at 21,162 points. HSCEI rose 48 points or 0.7% to 7,221 point. The Hang Seng Technology Index rose 26 points or 0.6% to 4,520 point. Half-day market turnover was HK$79.9 bn. Abu Dhabi Bank said that the process of acquiring Standard Chartered (2888) was no longer under consideration, and its stock price rose 4.8% to HK$64.5. It was reported that China plans to relax financing for the Chinese property developer. Mainland property stocks performed well. Country Garden (2007) rose more than 5%.

Source: KGI Asia Investment Strategy

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