Market Insight

Market Roundup

Hong Kong stock index futures settlement day today, the stock market fell repeatedly. The HSI opened 87 points lower and narrowed to 105 points after falling 221 points in the morning. The decline intensified in the afternoon, falling 225 points or 1.4% today to close at 16,392; the HSCEI fell 97 points or 1.7% to close at 5,728; the HSTECH fell 78 points or 2.3% to close at 3,393. The total daily turnover of the market was HK$115.61bn. Alibaba (9988) announced the withdrawal of Cainiao’s listing application, and its stock price fell 2.1% today. SenseTime (0020)'s losses expanded to RMB 6.44bn last year, and its stock price fell 10.3%. BYD (1211)'s full-year net profit growth of 81% was still lower than consensus, and its stock price fell 6.1%.

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.