Market Insight

Market Roundup

The market waited the FOMC meeting. The DJIA rose slightly by 10 points or less than 0.1% last night. Hong Kong stock market rose today driven by technology stocks. The HSI rose 311 points in the morning to 19,410, then narrowed its gains and rose 185 points or nearly 1% in mid-day to 19,285; the HSCEI rose 65 points or 1% to 6,545; the HSTECH rose 77 points or 2%, at 3,911. The market's mid-day turnover totaled HK$45.7bn. China-tech stocks generally did well, Tencent (0700) and Alibaba (9988) both rose 1.7%. The rise of Chinese developer stocks slowed down today. Agile (3383) and China Resources Land (1109) rose 2.6% and 2% respectively.

Source: KGI Asia Investment Strategy

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