Market Insight

Half Day Roundup

The U.S. employment figures were lower than consensus, which made the market looking forward to cut rate this year. Hong Kong stock market fluctuate today. The HSI rose 56 points after opening 12 points higher but fell 9 points or 0.1% at mid-day to 18,466; the HSCEI fell 17 points or 0.3% to 6,529; the HSTECH fell 1 point or 0.03% to 3,970 points. The total mid-day turnover of the market was HK$80.07bn. BYD (1211) plans to introduce more discounts on car purchases, and its stock price flat today. Rate cut expectation boosted gold stocks, with Shandong Gold (1787) rising 4.7% at mid-day.                   

Source: KGI Asia Investment Strategy

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