Market Roundup

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

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