Market Roundup

The Hang Seng Index opened 254 points higher but then declined, falling as much as 201 points to a low of 26,563. It closed the morning session down 109 points or 0.4% at 26,656. The Hang Seng China Enterprises Index fell 117 points or 1.3% to 8,917, and the Hang Seng Tech Index dropped 89 points or 1.7% to 5,171. Total turnover for the morning session was HK$130.935 billion. Cheung Kong Infrastructure (1038) led a consortium to sell UK distribution company UKPN, with an estimated enterprise value of HK$176.8 billion, causing its share price to rise 5.5%. Baidu (9888) announced its results after the market closed, and its shares fell 2.6%.

Source: KGI Investment Products and Solutions Department

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