Market Roundup

The China Securities Regulatory Commission (CSRC) has clearly stated that in the next three years, the market value of A-shares held by public funds will increase by at least 10% annually, promoting long-term capital inflow into the market. The Hang Seng Index fell by 78 points or 0.4% to 19,700 points; the China Enterprises Index fell by 13 points or 0.18% to 7,164 points; and the Hang Seng Tech Index fell by 65 points or 1.4% to 4,515 points. The total market turnover for the day was HKD 148.5 billion. Insurance stocks led the gains, with PICC (1339) rose 5.4% and China Life (2628) rose 2.5%. On the other hand, Country Garden (2007) continued to decline for the third day after resuming trading, fell by 14.4%.

Source: KGI Investment Strategy

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