Hong Kong Bourse Draws A Green Light For Monday's Trade

(RTTNews) - The Hong Kong stock market on Friday ended the two-day winning streak in which it had gathered more than 230 points or 0.9 percent. The Hang Seng Index now rests just above the 25,725-point plateau although figures to rebound on Monday.

The global forecast for the Asian markets is upbeat on optimism for a treatment for the Covid-19 virus. The European and U.S. markets were firmly higher on Friday and the Asian bourses are tipped to open in similar fashion.

The Hang Seng finished sharply lower on Friday following losses from the financials, properties, casinos and oil and insurance companies.

For the day, the index tumbled 482.79 points or 1.84 percent to finish at 25,727.41 after trading between 25,570.36 and 26,137.91.

Among the actives, China Life Insurance plummeted 6.70 percent, while Hang Lung Properties plunged 4.17 percent, WH Group tanked 3.29 percent, Tencent Holdings tumbled 2.93 percent, CITIC skidded 2.88 percent, Country Garden Holdings retreated 2.76 percent, China Mobile declined 2.66 percent, AAC Technologies surrendered 2.53 percent, China Petroleum and Chemical (Sinopec) dropped 2.29 percent, BOC Hong Kong sank 2.13 percent, Industrial and Commercial Bank of China shed 1.96 percent, Ping An Insurance lost 1.95 percent, AIA Group fell 1.83 percent, Galaxy Entertainment slid 1.65 percent, CNOOC dipped 1.48 percent, CSPC Pharmaceutical advanced 0.93 percent, Power Assets slipped 0.80 percent, Techtronic Industries added 0.70 percent, Hong Kong & China Gas was down 0.51 percent, Sands China eased 0.49 percent and China Mengniu Dairy was unchanged.
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