Market Roundup

U.S. core inflation unexpectedly slowed last month, boosting U.S. stocks last night. The Hong Kong stock market rose in the morning session, with the Hang Seng Index opening 168 points higher and at one point rising 378 points to 19,664 points. It closed up 237 points or 1.2% at 19,523 points. The China Enterprises Index rose 87 points or 1.2% to 7,099 points. The Hang Seng Tech Index rose 53 points or 1.2% to 4,417 points. The total market turnover for the day was HKD 142.3 billion. NetEase (9999) opened higher but its gains narrowed to 1.4%. SMIC (981) hit a new high but then fell 3.2%.

Source: KGI 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.