Hong Kong Stock Exchange May See Renewed Consolidation Friday

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(RTTNews) – The Hong Kong stock market ended a four-day losing streak on Thursday in which it fell more than 840 points or 3.6%. The Hang Seng Index now sits just above the 23,475 point plateau, although it is expected to open again under pressure on Friday.

Global forecasts for Asian markets are mixed to lower, with profit taking – especially among tech stocks – fueling a downward correction after strong gains a day earlier. European markets were up and US stock markets were down and Asian markets are expected to follow this latest trend.

The Hang Seng ended slightly higher on Thursday following gains from tech stocks, oil companies and casinos.

For the day, the index gained 54.74 points or 0.23% to end at 23,475.50 after trading between 23,155.62 and 23,526.05.

Among assets, AAC Technologies grew 0.79%, while AIA Group rose 0.57%, Alibaba Group and Hengan International both fell 0.25%, Alibaba Health Info rose 1.92 %, ANTA Sports fell 0.42%, China Mengniu Dairy slipped 0.77%, China Petroleum and Chemical (Sinopec) jumped 0.82%, China Resources Land improved 0.31% , CITIC lost 0.39%, CNOOC gained 0.65%, Country Garden jumped 5.71%, CSPC Pharmaceutical was up 0.85%, Galaxy Entertainment was up 0.63%, Hang Lung Properties increased by 0.13%. , Henderson Land fell 1.06%, Industrial and Commercial Bank of China sank 0.47%, Li Ning fell 0.22%, Longfor accelerated 0.98%, Meituan fell 1, 41%, New World Development was down 1.15%, Sands China was up 0.70%, Sun Hung Kai Properties was down 0.27 percent, Techtronic Industries was up 1.97 percent, Xiaomi Corporation a added 0.67 percent, WuXi Biolo gics soared 11.31% and China Life Insurance and Hong Kong & China Gas remained unchanged.

Wall Street’s lead is negative as major averages opened slightly higher on Thursday, but quickly declined, falling to session lows at the close.

The Dow Jones lost 29.79 points or 0.08% to close at 35,897.64, while the NASDAQ fell 385.15 points or 2.47% to close at 15,180.43 and the S&P 500 fell. lost 41.18 points or 0.87% to finish at 4,668.67.

Wall Street’s pullback came as traders continued to digest the Federal Reserve’s monetary policy announcement on Wednesday, which was to step up the pace of its asset purchases cut and forecast up to three rate hikes. interest next year.

While some stocks benefited from reduced uncertainty about the outlook for monetary policy, high-growth tech stocks fell sharply amid concerns about the impact of rising interest rates.

In economic news, the Labor Department noted a modest rebound in first jobless claims last week, while the Fed also said U.S. industrial production grew less than expected in November. Additionally, the Commerce Department said housing starts and building permits both rose much more than expected last month.

Crude oil futures stabilized higher on Thursday, thanks to data showing increased demand for energy in the United States and a larger-than-expected decline in U.S. crude inventories last week. West Texas Intermediate crude oil futures for January ended up $ 1.51 or 2.1% at $ 72.38 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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