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 111 points or 0.5% to 22,773 at mid-day; the HSCEI rose 20 points or 0.3% to 8,282; the HSTECH fell 11 points or 0.2% to 5,227. The total market turnover was HK$148.0bn. Macau gaming stocks continued to rise, with Melco International (0200), Galaxy Entertainment (0027) and Sands China (1928) rising by 1.9% to 2.7%. Automobile agent Zhongsheng (0881) rose 6% today.

Source: KGI Investment Strategy Department

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