Market Insight

Market Roundup

U.S. stocks performed well last night, but the Hang Seng Index opened 139 points lower and closed at 20,643 points. After China’s first-quarter GDP was announced earlier than expected, the index’s decline was once narrowed, but in the end the Hang Seng Index still fell 156 points or 0.8% for the first-half at 20,627 point; the China Enterprises Index fell 50 points, or 0.7%, to 7,006 point; the Hang Seng Technology Index fell 54 points, or 1.3%, to 4,199 point. The market's half-day turnover was HK$ 66.1 bn. Anta (2020) placed shares at a discount, and its stock price fell more than 7% to HK$100.7. On the other hand, domestic insurance stocks performed well. China Life Insurance (2628) was the best blue chip stock of the day, and its share price rose by more than 3%.

Source: KGI Asia Investment Strategy

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