Market Insight

Market Roundup

The market waited the FOMC meeting. The DJIA rose slightly by 10 points or less than 0.1% last night. Hong Kong stock market rose today driven by technology stocks. The HSI rose 311 points in the morning to 19,410, then narrowed its gains. HSI rose 152 points or 0.8% to close at 19,252; the HSCEI rose 61 points or 0.9% to close at 6,541; the HSTECH rose 86 points or 2.3% to close at 3,921. The total daily turnover of the market was HK$86.7bn. Chinese tech stocks generally performed well, Tencent (0700) and Alibaba (9988) rose 1.3% and 2.1% respectively. The rise of Chinese property developers slowed down today. Agile (3383) and China Resources Land (1109) rose 3.0% and 1.1% respectively.

Source: KGI Asia Investment Strategy

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