Market Insight

Market Roundup

The Hang Seng Index opened slightly higher by 9 points, opening at 19,117 points, the index increased by as much as 269 points, and turned down 9 points throughout the day to 19,099 points; The China Enterprises Index rose 16 points or 0.2% to 6,480 points; the Hang Seng Technology Index fell 6 points or 0.2% to 3,834 points. The market turnover was HK$ 102.5 billion. Chinese property developer stock performance remain volatile. Longfor (960) rose over 7.8%, while Country Garden (2007) rose 6.2%. CPCA expected that the wholesale sales of new energy car in May will increase by 11% month-on-month. BYD (1211) up 1.5% and Ideal (2015) up 3.3%.

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.