Market Roundup

The Hong Kong stock market was under pressure on the eve of the futures contract settlement day, with all three major indices falling. The Hang Seng Index fell 242 points or 0.9% at midday, closing at 25,319 points; the Hang Seng Tech Index dropped nearly 1.8%, closing at 5,564 points; the China Enterprises Index fell 108 points or 1.2%, closing at 9,068 points. The main board’s turnover at midday was about HKD 142.4 billion. In terms of individual stocks, Xiaomi (1810) fell nearly 4%, being the largest decliner among the component stocks at midday, mainly due to pressure from the tech sector adjustment and weak overall market sentiment. BYD Electronic (0285) fell nearly 3%. The pharmaceutical sector bucked the trend and performed well, with WuXi AppTec (2359) reporting a significant profit increase in the first half of the year, its stock rose more than 10% at midday, becoming the largest gainer among blue chips. CSPC Pharmaceutical Group (1093) and WuXi Biologics (2269) rose more than 6% and 4% respectively.

Source: KGI Investment Products and Solutions Department

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