Market Insight

Half Day Roundup

US stocks rose overnight. The Hang Seng Index rebounded today and opened at 20,011 points, up 244 points. In the first half, the Hang Seng Index held above 20,000 points and closed at 20,054 points in the first half, up 287 points. The H-Share Index rose 101 points to 6,838 points; the HSTECH Index rose 93 points to 4,340 points. Half-day market turnover was HK$50.8 bn. Alibaba (9988) jumped 4% to HK$94 before the earning release and the news of Softbank sold shares through forward contract had not stop the rally.

Source: KGI Asia Investment Strategy

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