Market Roundup

The Hang Seng Index opened 220 points higher, initially rising 350 points to a high of 27,126 before declining, falling as much as 343 points to a low of 26,431. It recovered its losses before noon, closing up 59 points or 0.2% at 26,834. The Hang Seng China Enterprises Index fell 27 points or 0.3% to close at 9,053, and the Hang Seng Tech Index fell 59 points or 1.1% to close at 5,467. Total market turnover was HK$335.152 billion. Rumors circulated that China's financial industry and online value-added services might face a VAT rate increase, but state media, citing authoritative experts and industry insiders, reported that the rumors were untrue. NetEase (9999) reversed its losses and rose 0.3%.

Source: KGI Investment Products and Solutions Department

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