Market Roundup

The Hang Seng Index rose 148 points or 0.52% to 27,975 points in the morning session, a more than four-and-a-half-year high. The Hang Seng China Enterprises Index rose 43 points or 0.5% to 9,555 points; while the Hang Seng Tech Index bucked the trend, falling 39 points or 0.7% to 5,860 points. The total turnover of the morning session was HK$171.9 billion. Mainland property stocks performed strongly, with Longfor Group (0960) rising 5.6% in the morning session, mainly due to reports that regulators no longer require most developers to report the "three red lines" indicators, which is beneficial to the industry's liquidity expectations. Zijin Mining (2899) rose 4% in the morning session, driven by gold prices breaking through previous highs. Sands China (1928), however, was pressured by a 10% year-on-year drop in its last quarter's profit, which was lower than expected, and its share price fell by about 7% against the market trend.

Source: KGI Investment Products and Solutions Department

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