Market Insight
Half Day Roundup
The Hang Seng Index opened 120 points lower at 17,521 points. The half-day decline narrowed to 71 points, or 0.4%, to 17,569 points; the HSCEI Index fell 25 points, or 0.4%, to 6,199 points; Hang Seng Technology The index fell 53 points, or 1.5%, to 3,455 points. The total half-day turnover of the market was HK$41.6 billion. NetEase (9999) fell 12.8% after adjusted net profit expectations were lower than expected. Alibaba (9988) announced that it will become a primary listing on the Hong Kong Stock Exchange on August 28, and its stock price rose 0.4%.
Source: KGI 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.