Hong Kong Stock Market Flat on Thursday Trade

Since the conclusion of the three-day decline in which it fell more than 480 points or 2.7 percent, the Hong Kong stock market has alternated between positive and negative finishes throughout the course of the following four trading days. The Hang Seng Index was hovering barely over the plateau of 19,365 points, and last Thursday forecasts were to bring more range-bound trading.

As investors reflect on Wednesday’s FOMC rate decision, the outlook for the Asian markets is unclear globally. The U.S. and European countries also experienced losses, while the Asian markets are likely to follow suit.

Following inconsistent performances from the technology companies, financials, and real estate sectors, the Hang Seng concluded Wednesday slightly lower.

For the day, the index dropped 69.26 points or 0.36 percent to finish at 19,365.14 after trading between 19,245.66 and 19,404.50.

Among the actives, Alibaba Group declined 1.37 percent, while Alibaba Health Info surged 2.46 percent, ANTA Sports and Hang Lung Properties both sank 0.52 percent, China Life Insurance collected 0.33 percent, China Mengniu Dairy added 0.54 percent, China Resources Land advanced 0.88 percent, CITIC tanked 2.10 percent, CNOOC fell 0.16 percent, Country Garden plummeted 7.68 percent, CSPC Pharmaceutical shed 0.47 percent, Galaxy Entertainment spiked 2.15 percent, Henderson Land lost 0.21 percent, Hong Kong & China Gas rallied 0.93 percent, Industrial and Commercial Bank of China retreated 1.08 percent, JD.com tumbled 1.84 percent, Lenovo slumped 0.85 percent, Li Ning plunged 2.15 percent, Meituan perked 0.07 percent, Techtronic Industries soared 2.37 percent, Xiaomi Corporation dropped 0.70 percent, WuXi Biologics improved 0.84 percent and New World Development was unchanged.

The major averages started Wednesday’s trading session lower but recovered sufficiently to close mixed and little changed, providing no direction from Wall Street.

The Dow gained 82.05 points or 0.23 percent to finish at 35,520.12, while the NASDAQ fell 17.27 points or 0.12 percent to close at 14,127.28 and the S&P 500 dipped 0.71 points or 0.02 percent to end at 4,566.75.

- Published By Team Hongkong Journalist

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