Market Roundup

China's November economic data all fell short of consensus. Hong Kong stock market followed the trend and declined this morning  following external fluctuations. The HSI opened 258 points lower and fluctuated in the morning, closing down 240 points or 0.9% at 25,736; the HSCEI fell 109 points or 1.2% to 8,970; and the HSTECH dropped 100 points or 1.8% to 5,537. Total turnover for the morning was HK$108.24bn. HSBC (0005) plans to privatize Hang Seng Bank (0011) at a price of HK$155 per share, with a vote scheduled for the 8th of next month. HSBC fell 1.1%, while Hang Seng rose 0.3%. Pharmaceutical stocks were under pressure, with Innovent Biologics (1801), Rongchang (9995) and Akeso (9926) falling 4.9% to 5.5%, while BeiGene (6160) and Hansoh (3692) fell 6.8% and 7.6% respectively.

Source: KGI Investment Products and Solutions Department

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