Market Roundup

The PBOC announced interest rate cuts and reserve requirement ratio cuts, and Hong Kong stock market rose in the morning. The HSI opened 507 points higher and then narrowed its gains significantly, rising 29 points or 0.1% to close at 22,691 for today; the HSCEI fell 19 points or 0.2% to close at 8,242; and the HSTECH fell 39 points or 0.8% to close at 5,200. The total market turnover for the day was HK$240.1bn. Wu Qing, Chairman of the China Securities Regulatory Commission, reiterated that the company intends to include REITs and other products in the Hong Kong Stock Connect in the future. Link REIT (0823) rose 6.7% to HK$40.0. Macau gaming stocks continued to rise, with Melco International (0200), Galaxy Entertainment (0027) and Sands China (1928) rising by 2% to 4.7%.

Source: KGI Investment Strategy Department

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.