Market Insight

Market Roundup

The Bureau of Statistics of China announced that the CPI for July fell by 0.3% YoY, which was better than the consensus of 0.4%. The HSI opened 124 points lower and then rose. It once rose 86 points to 19,270. It fell 10 points or 0.1% in mid-day to 19,173; the HSCEI fell 9 points or 0.2% to 6,577; The HSTECH fell 28 points or 0.6% to 4,345. The market's mid-day turnover totaled HK$45.9bn. Financial stocks fell today along with US banking stocks. HSBC (0005) and AIA (1299) both fell 0.8. Li Auto (2015)'s 3Q23 delivery target fell short of market consensus, and its share 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.