Market Insight

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

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.