Market Insight

Market Roundup

U.S. stocks closed higher late last night. The Hang Seng Index opened 54 points higher at 17,250 points. The day's gain narrowed to 18 points, or 0.1%, to 17,214 points. The H-Share Index rose 5 points, or 0.1%, to 5,888 points; The Hang Seng Technology Index rose 5 points, or 0.1%, to 3,758 points. The market turnover was HK$47 bn. Beer stocks rebounded today, with Budweiser Asia Pacific (1876) and China Resources Beer (291) rebounding 5.4% and 2.4% respectively. In addition, the Hong Kong court approved Sunac's overseas debt restructuring plan, and the share price of Sunac China (1918) rose by more than 6.3%.

Source: KGI Asia Investment Strategy

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