Market Roundup

Market Roundup

Hong Kong stock market opened higher and closed lower today. The HSI opened 42 points higher this morning and then fell 42 points before lunch. The decline intensified when the market resumed in the afternoon. The HSI closed at 16,536 points today, down 253 points or 1.5%. The HSTECH reported at 3,426, down 76 points or 2.2%. The HSCEI fell 118 points, or 2.0%, to 5,688. The market turnover was HK$107.02bn. All property curbs were ditched, but the gains of local real estate stocks narrowed significantly in the afternoon. Henderson Land (0012) rose 3.8%, New World (0017) rose 2.9%, SHKP (0016) rose only 0.6%, while CK Asset (1113) was flat. In February, 111 domestic online games were approved in China, including NetEase's game, and NetEase's stock price rose 4.6%.

Source: KGI Asia Investment Strategy

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