Technology stocks retreated last week. Significantly weighted constituents of CES China Private Elite Index (CES CPE), such as Alibaba and Tencent, declined 7% & 9% respectively. Overall CES CPE plunged 6.2%.
China Caixin November PMI was announced at 50.8, lowest level in 5 months. CES A80, tracking the A-shares blue chips performance, down 3.3%.
Bearish sentiment contagion from A-share market to Hong Kong market. Meanwhile CES SCHK100 down only 2.2%, still performed better than other HK market tracking indices. Macau Gross Gaming Revenue in November rose 22.6%. CES G10 even increased 1.5% for the whole week.
