Market Roundup

Half Day Roundup

U.S. bond rates and the DXY rebounded, while U.S. stocks fell. Hong Kong stock market also followed the Asia-Pacific market downward today. The HSI opened 163 points lower and then expanded its losses, falling 205 points or 1.2% in mid-day to 16,583; the HSCEI fell 65 points or 1.2% to 5,606; the HSTECH fell 88 or 2.4%, reported at 3,626. The total mid-day turnover of the market was HK$38.96bn. Foreign media reported that the Chinese video gaming official, who proposed new gaming restriction, stepped down. Tencent (0700) and NetEase (9999) rose 0.7% and 1.2% respectively. Apple (AAPL.US) was downgraded, citing weak sales of the latest iPhone. Mobile phone component stocks Sunny (2382) and AAC (2018) fell 3.6% and 3.5% respectively.

Source: KGI Asia Investment Strategy

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