Renewed Selling Pressure Anticipated For Hong Kong Shares

By Markets Businessinsider Com7 days ago

(RTTNews) - The Hong Kong stock market on Tuesday ended the two-day losing streak in which it had plummeted nearly 950 points or 2.6 percent. The Hang Seng Index now sits just above the 28,550-point plateau although it figures to head south again on Wednesday.

The global forecast for the Asian markets is soft, with technology stocks and airlines expected to lead the way lower. The European markets were down and the U.S. bourses were mostly negative and the Asian markets are also tipped to open under pressure.


The Hang Seng finished modestly higher on Tuesday following gains from the oil companies and casinos, while the properties and technology stocks were mixed.

For the day, the index advanced 199.60 points or 0.70 percent to finish at 28,557.14 after trading between 28,321.34 and 28,577.52.

Among the actives, AAC Technologies added 0.47 percent, while AIA Group gathered 1.66 percent, Alibaba Group increased 0.63 percent, Alibaba Health Info gained 1.30 percent, ANTA Sports soared 3.11 percent, China Life Insurance collected 1.03 percent, China Mengniu Dairy accelerated 2.12 percent, China Petroleum and Chemical (Sinopec) surged 4.08 percent, China Resources Land spiked 2.50 percent, CITIC added 1.34 percent, CNOOC perked 1.59 percent, CSPC Pharmaceutical advanced 1.37 percent, Galaxy Entertainment rose 1.17 percent, Hang Lung Properties lost 0.53 percent, Henderson Land improved 1.02 percent, Hong Kong & China Gas jumped 1.45 percent, Industrial and Commercial Bank of China sank 0.60 percent, Longfor was up 0.41 percent, Meituan fell 0.48 percent, New World Development tumbled 0.73 percent, Sands China gained 0.54 percent, Sun Hung Kai Properties strengthened 0.60 percent, Techtronic Industries rallied 1.91 percent, Xiaomi Corporation climbed 1.43 percent and WuXi Biologics slid 0.46 percent.

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