Market Insight

Half Day Roundup

Hong Kong stock market continued to perform well today, with the HSI recording three consecutive gains. The HSI opened 90 points higher and then expanded its gains, rising 223 points or 1.4% in mid-day to 16,122; the HSCEI rose 82 points or 1.5% to 5,435; the HSTECH rose 21 points or 0.7% to 3,302. The total mid-day turnover of the market was HK$69.95bn. The central government intends to relax commercial property loans, and mainland property stocks generally rose, ranging from 3.9% to 17.2%. The SASAC said yesterday that it would study the inclusion of market cap management in the performance evaluation. The " China's special valuation " concept stock rose. The share prices of CNOOC (0883), Sinopec (0386) and PetroChina (0857) rose by 3%, 4.1% and 5.5% respectively.

Source: KGI Asia Investment Strategy

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