Market Roundup

Market Roundup

U.S. stocks closed lower last night. The Hang Seng Index opened 67 points lower at 20,330 points. The trend throughout the day was weak, fell 321 points or 1.6%, to 20,076 points; The China Enterprises Index fell 131 points or 1.9% to 6,764 points; the Hang Seng Technology Index fell 128 points or 3.1% to 3,970 points. The market turnover was HK$106.1 bn. Li Ning (2331) announced yesterday that it recorded mid-single-digit growth in the first quarter. Its share price once rose by 13%, but the daily increase narrowed to 2.9%, closing at HK$59. Chinese stocks continued to reach new high, but turned down due to market conditions. China Railway Group (390) and China Railway Construction (1186) fell 0.5% and 1.5% respectively.

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.