Market Insight

Half Day Roundup

Hong Kong stock market continued to trade first lower and then higher today, rising for four consecutive trading days. The HSI opened 57 points lower and then rebounded, rising 94 points or 0.6% at mid-day to close at 17,295; the HSTECH fell 2 points or 0.1% to close at 3,571; the HSCEI rose 28 points or 0.5% to close at 6,129. The total market turnover was HK$71.59bn. New Oriental (9901)'s quarterly results were worse than expected, and its stock price fell 16.0% at mid-day. Mobile phone equipment stocks generally performed well, with Sunny Optical (2382) and AAC Technologies (2018) rising 3.5% and 2.7% respectively. Chinese property stocks performed well today, with China Overseas (0688) and CRL(1109) rising 5.1% and 3.8% respectively.

Source: KGI Asia Investment Strategy

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