Market Roundup

China's November economic data all fell short of consensus. Hong Kong stock maret followed the global market's downward trend this morning. The HSI opened 258 points lower and then widened its losses, closing down 347 points or 1.3% at 25,628; the HSCEI fell 161 points or 1.8% to 8,917; and the HSTECH fell 139 points or 2.5% to 5,498. Total market turnover was HK$204.3bn. HSBC (0005) plans to privatize Hang Seng Bank (0011) at HK$155 per share, with a vote scheduled for November 8th. HSBC fell 0.9%, while Hang Seng rose 0.3% to HK$153.5. Pharmaceutical stocks were under pressure, with Hansoh (3692) and BeiGene (6160) falling 7.6% and 8.1% respectively, with Hansoh being the biggest loser among blue chips.

Source: KGI Investment Products and Solutions Department

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