Market Roundup

Market Roundup

The yuan under-pressure. The Hang Seng Index opened 118 points lower, at 16,745 points, and fell 363 points, or 2.2%, to 16,499 points for the day; the China National Index fell 148 points, or 2.5%, to 5,757 points; the Hang Seng Technology Index fell 127 points, or 3.5%, to 3,456 points. The total daily turnover of the market was HK$135.6 billion. CK (1113)'s net profit fell 20% and its dividend dropped 12.4% year-on-year. Its stock price fell 10.7%. Orient Overseas (316)'s net profit and dividends fell sharply, and its stock price fell 16.7%. In addition, Li Auto (2015) also fell 10%.

Source: KGI Asia Investment Strategy

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