Daily Market Summary
The HSI fluctuated within a narrow range of 113 pts after opening high following the strong overnight U.S and A-share market. The HSI closed at 22,141, up 180 pts, with the market turnover fell to HK$68.37bn.
TENCENT (700) soared 5.8% to HK$532 due to the launch of the "Red Pocket" service on Wechat. LENOVO (992) jumped 4.6% to HK$10.96 on its restructuring. Mainland banks rebounded as new loans for the Big 4 Banks grew to RMB430bn, up 10% YoY as of Jan 26. ICBC (1398), CCB (939) and BOC (3988) rose 4.1%, 2.5% and 1.8% respectively. Local property developers generally came under pressure. CHEUNG KONG (1), HANG LUNG PPT (101) and SHK PPT (16) slid over 1%.