Market Roundup

China Securities Journal published an article suggesting that a further reserve requirement ratio (RRR) cut by the People's Bank of China (PBOC) cannot be ruled out. This news led to a rise in the Hong Kong stock market during the morning session. The Hang Seng Index (HSI) opened 174 points higher at 23,829, and closed the day up 253 points or 1.1%, at 23,907. The China Enterprises Index (CEI) rose 108 points or 1.2%, to 8,685. The Hang Seng Tech Index gained 101 points or 1.9%, closing at 5,320. Total market turnover for the day was HKD 222 billion. Laopu Gold (6181), a gold retailer, reaching a high of HKD 1,015, but ended the day down 9%, closing at HKD 904.

Source: KGI Investment Products and Solutions Department

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