Market Roundup

Dragged down by pharmaceutical sector, Hong Kong stock market fluctuated today. The HSI opened 212 points lower, falling 321 points in the morning before narrowing its losses significantly. It closed near its mid-day high of 26,124, down 75 points, or 0.3%. The HSCEI fell 44 points, or 0.5%, to 9,283, while the HSTECH dropped 5 points, or 0.1%, to 5,897. Market turnover for the mid-day totaled HK$176.34bn. White House officials are drafting an executive order to tighten the review process for US pharmaceutical companies purchasing licenses from Chinese pharmaceutical companies. Pharmaceutical stocks fell across the board, with Akeso (9926), WuXi Biologics (2269), and Hansoh Pharmaceutical (3692) falling between 4% and 9.2%.

Source: KGI Investment Products and Solutions Department

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.