Market Insight

Half Day Roundup

U.S. stocks were closed yesterday. Hong Kong stocks opened down 186 points at 16,030 points. Fell 312 points, or 1.9%, to 15,904 points in half a day; the H-Share Index fell 101 points, or 1.8%, to 5,345 points; the Hang Seng Technology Index fell 80 points or 2.3% to 3,324 points. The total half-day turnover of the market was HK$40.5 billion. Chinese property stocks were under pressure today, with Sunac China (1918), Sino-Ocean (3377) and Longfor (960) falling between 7-9%. After yesterday's heavy losses, Baidu (9888) rebounded 1.5% to HK$102 today. Ctrip (9961) announced the number of spring break travel orders, and its stock price rose 0.8% to HK$292.6. It is one of the stock that outperformed the index.

Source: KGI Asia Investment Strategy

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