Market Insight

Market Roundup

US inflation data for March will be released soon. Today, Tencent (0700) have faced selling pressure due to its main shareholder reducing its shares. Hong Kong market was also dragged down. The HSI once fell 121 points or 0.6% in mid-day, and then the decline was expanded. The HSI fell 175 points or 0.9% today, closing at 20,309; the HSCEI fell 83 points or 1.2%, closing at 6,866. The HSTECH fell 81 points or 1.9%, to close at 4,166. The market turnover totaled HK$108.1 bn. Tencent (0700) was deposited 96mn shares in CCASS by a major shareholder. The stock price fell 5.2% to HK$357.2 today. Chip rose against market, SMIC (0981) and Hua Hong Sem (1347) rose 5.7% and 3.4% 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.