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Renewed Selling Pressure Likely For Hong Kong Shares

(RTTNews) - The Hong Kong stock market rebounded on Friday, one session after it had halted the two-day winning streak in which it had gathered more than 580 points or 2.1 percent. The Hang Seng Index now rests just above the 27,815-point plateau although it's expected to open lower again on Monday.

The global forecast for the Asian markets is flat to lower, with investors expected to evaluate the most current coronavirus numbers. The European markets were down on Friday and the U.S. bourses were mixed but little changed and the Asian markets figure to split the difference.

The Hang Seng finished modestly higher on Friday following gains from the property stocks and financial shares.

For the day, the index gathered 85.60 points or 0.31 percent to finish at 27,815.60 after trading between 27,695.59 and 27,960.66.

Among the actives, AAC Technologies plummeted 2.63 percent, while Techtronic Industries surged 2.46 percent, Wharf Real Estate soared 2.29 percent, CSPC Pharmaceutical and Sun Hing Kai Properties both spiked 1.49 percent, China Mobile tumbled 1.44 percent, New World Development accelerated 1.36 percent, Sands China skidded 1.10 percent, WH Group jumped 0.98 percent, China Life Insurance dropped 0.92 percent, China Mengniu Dairy climbed 0.85 percent, AIA Group advanced 0.56 percent, Industrial and Commercial Bank of China collected 0.55 percent, Hong Kong & China Gas added 0.53 percent, BOC Hong Kong gained 0.36 percent, Tencent Holdings lost 0.34 percent, CITIC rose 0.32 percent, Ping An Insurance increased 0.17 percent and China Petroleum and Chemical (Sinopec), CNOOC, Galaxy Entertainment, Power Assets and China Resources Land all were unchanged.
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