Market Roundup

Market Roundup

The U.S. stock earnings season continues, with some large tech stocks underperforming expectations, dragging down the Nasdaq. The Hang Seng Index followed the external downward trend, opening 280 points lower in the morning at 17,025 points, and closed 359 points or 2.1% at 16,945 points. The China Enterprises Index fell 111 points or 1.8% to 5,975 points, and the Hang Seng Tech Index dropped 91 points or 2.6% to 3,385 points. The total market turnover for the day was HKD 100.5 billion. Tencent (700) once recovered its losses but unable to maintain, closed fell 2.0%. Commodity stocks were under pressure, with PetroChina (857) and CNOOC (883) fell 1.8% and 2.4%, respectively.

Source: KGI Investment Strategy

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