Market Roundup

Hong Kong stock market perform well, driven by Alibaba-related stocks. The HSI opened 123 points higher and the gains widened, but the Shanghai and Shenzhen stock exchanges announced an increase in margin requirements at noon, causing the HSI to fall as much as 68 points. The HSI closed up 151 points, or 0.6%, at 26,999; the HSCEI rose 30 points, or 0.3%, to 9,315; and the HSTECH rose 38 points, or 0.7%, to 5,908. Total market turnover increased to HK$340.4bn. Reports indicate that Alibaba (9988) has surpassed 100mn monthly active users and is rumored to be releasing a major product upgrade tomorrow; its share price rose 5.7%. Alibaba Health (0241) recently exclusively launched the world's first innovative topical drug for infantile hemangiomas, and its shares rose 19%.

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.