Market Roundup

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

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.