Market Roundup

Market Roundup

China Evergrande Group filed for bankruptcy protection in the United States. The Hang Seng Index opened 117 points lower at 18,209 point. The half-day decline extended to 205 points or 1.1% to 18,121 point; the H-Share Index fell 82 points or 1.3% to 6,210 points; The Hang Seng Technology Index fell 106 points, or 2.5%, to 4,052 points. The market's half-day turnover was HK$ 53.4 bn. Evergrande Services (6666) and Evergrande Vehicle (708) fell 13.6% and 10% respectively. Longfor (960) fell 3.2% to HK$16.64 before the results announcement.

Source: KGI Asia Investment Strategy

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