Market Review

The HSI ended down on Thursday by 1.4% to finish at 20,575.8 points.  The HSCEI on the other hand fell 273.2 points or 2.3% at 11,775.1 points.  Market turnover for the HSI rose to HK$63.3bn from HK$59.9 the day before.  Main reason for the fall was due to profit taking in the Chinese banking counters and negative concerns of the China Mobile’s (941 HK) plan to buy a stake in Shanghai Pudong Development Bank.  Despite the overall negative sentiment, Standard Chartered Bank (2888 HK) rose 5.7% for the day after reporting its annual results.