Market Roundup

Markets awaited the FOMC meeting, resulting in volatile trading in Hong Kong stock market. The HSI opened 54 points higher but then turned lower, closing down 43 points or 0.2% at 25,825; the HSCEI fell 54 points or 0.6% to 8,772; and the HSTECH dropped 41 points or 0.8% to 5,066. Total market turnover shrank to HK$109.0bn. Tencent Music (1698) saw its share price plummet 22.7% after its net profit margin guidance fell short of expectations and it announced a reduction in the disclosure of key indicators starting next quarter. Kingdee (0268) reported a full-year net profit of RMB 92.9mn, turning a loss into a profit, and its share price rose 4%.

Source: KGI Investment Products and Solutions Department

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