Market Roundup

Last night, US-listed Chinese stocks retreated, sending Hong Kong stocks lower in morning trading. The HSI opened 57 points lower, then widened its losses to 440 points before narrowing, closing down 128 points, or 0.5%, at 26,829. The HHSCEI fell 49 points, or 0.5%, to 9,523, while the HSTECH dropped 36 points, or 0.6%, to 6,514. Total market turnover for the day was HK$173.8bn. Major tech stocks generally declined, with Alibaba (9988) and Baidu (9888) down 1.6% and 3% respectively. Tencent (0700) dipped slightly 0.4%, while NetEase (9999) bucked the market and rose 2.9%. At the end of the National Day Golden Week holiday, airline stocks like Air China (0753), China Eastern Airlines (0670), and China Southern Airlines (1055) fell by over 3%.

Source: KGI Investment Products and Solutions Department

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