Index Performance Review

(3 - 10 Feb 2017)
With stricter capital control and expectation of further CNY depreciation, Chinese investors flocked to buy Hong Kong shares, evidenced by increasing southbound inflows through Stock Connect Scheme. Hong Kong shares surged to four-month high last week, with mainland names outperforming. CES SCHK100 finished the week with a 1.7% gain at 4624.74, while CES HKMI advanced 2.7%.
Almost all sectors in HK market gained during the week, with Chinese developers and insurers among the best performers. The financial sector of CES HKMI as a whole contributed more than 92% of the index gain last week. After Donald Trump suggested that more details of long-awaited tax cuts would emerge in the coming weeks, Hong Kong shares tracked gains on Wall Street.
Mid-cap cross-border index CES 280 closed 2.5% higher last week, outperformed large-cap one in the same series—CES 120, which rose 1.9%.
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