Market Roundup

Half Day Roundup

The Hong Kong stock market followed the positive trend of the external markets in the morning session. The Hang Seng Index opened 104 points lower, initially dropped 212 points to 16,665 points, and managed to regain momentum and rose 120 points or 0.7% to 16,998 points by midday. The China Enterprises Index rose 51 points or 0.9% to 5,984 points, and the Hang Seng Tech Index rose 31 points or 0.9% to 3,414 points. The total market turnover for the half-day was HKD 54.836 billion. Chinese food stocks were under pressure, with Uni-President China (220) down 7.3% and Tingyi (322) down 6%. Shenzhen began purchasing commercial housing, with Longfor (960) and China Resources Land (1109) both rose over 2%. Techtronic Industries (669) was favored by brokers after its earnings release, with its stock price rose 3.9%.

Source: KGI Investment Strategy

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