Market Roundup

Hong Kong stocks opened higher following gains in overseas markets. The HSI opened 422 points higher and traded within a narrow range, closing up 467 points or 1.8% at 27,027. The HSCEI rose 136 points or 1.5% to close at 9,168, while the HSTECH gained 71 points or 1.3% to close at 5,417. Total turnover for the day was HK$255.14bn. Insurers rose, with China Life (2628) seeing further increases in holdings from Ping An Insurance (2318). China Life and Ping An rose 4% and 4.9% respectively. China Taiping (0966), PICC (1339), and PICC Property & Casualty (2328) rose between 3.5% and 4%. Kuaishou (1024) was fined nearly RMB 120mn by the Beijing Cyberspace Administration, causing its share price to fall 2.7%.

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.