Market Roundup

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

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