Market Roundup

Market Roundup

The Hang Seng Index opened 44 points lower today at 17,194 points. It expanded its decline throughout the day to 235 points or 1.4%, closing at 17,003 points. The HSCEI Index fell 94 points or 1.5%, closing at 5,986 points. The Hang Seng Tech Index dropped 52 points or 1.5%, closing at 3,414 points. The total market turnover for the day was HKD 89.9 billion. Mengniu (2319) had its target price lowered to HKD 13 by JPMorgan Chase, causing its stock price to drop 6.5% to HKD 12.6. Hang Lung Properties (101) interim dividend decrease by 30%, leading to an 11.7% drop in its stock price. Additionally, Standard Chartered (2888) saw a 4.9% rise in its stock price due to better-than-expected results and increased buybacks.

Source: KGI Asia Investment Strategy

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