Market Insight

Half Day Roundup

The Hang Seng Index opened 128 points lower in the early session to 20,223 points, and the half-day decline extended to 288 points or 1.4% to 20,063 point; the H-Share Index fell 122 points or 1.8% to 6,737 points; the Hang Seng Technology Index fell 86 points or 2.1% , at 4,063 point, with a half-day turnover of HK$ 57.4 bn. Alibaba (9988) announced last night that its revenue and adjusted net profit exceeded expectations, and its stock price fell 4.3% to HK$91.1. Techtronic Ind (669) pointed out that the report of short-sellers was taken out of context, the stock resumed trading today, and the stock price rebounded 5%

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.