Market Insight

Market Roundup

The debt ceiling negotiations will be resumed today. The Hang Seng Index opened 29 points higher at 19,479 points and expanded to 228 points throughout the day to 19,678 points; the China Enterprises Index rose 100 points or 1.5% to 6,694 point; the Hang Seng Technology Index rose 82 points or 2.1%, to 3,904 points. The market turnover was HK$ 94 bn. Power stocks performed well, China Longyuan Power (916) and China Resources Power (836) rose 8.3% and 6.1%. Kuaishou (1024) rose 6.9% to HK$53.5 before the results announcement. Domestic consumption stock also rebounded today. Haidilao (6862) and Jiumaojiu (9922) rose 2.9% and 2%.

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.