Market Roundup

Hong Kong stocks rose today, driven by property stocks. The HSI opened 94 points higher and fluctuated upwards, closing up 16 points, or less than 0.1%, at 26,765; the HSCEI fell 13 points, or 0.15%, to close at 9,147; and the HSTECH fell 72 points, or 1.2%, to close at 5,725. The total turnover of the market was HK$261.7bn. Local property stocks rose, with Sun Hung Kai Properties (0016), Sino Land (0083), Hang Lung Properties (0101), and CK Asset Holdings (1113) rising 3% to 3.9%, and New World Development (0017) rising 4.4%. Conglomerate CK Hutchison Holdings (0001) reportedly plans to split the port sale transaction into independent projects with different ownership structures to advance the sale plan, and CK Hutchison rose 3.5%.

Source: KGI Investment Products and Solutions Department

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