In three consecutive sessions, the Hong Kong stock market lost ground, losing more than 675 points, or 3.3 percent. The Hang Seng Index is currently hovering just above the 19,925-point threshold, and Friday’s session could see another slight advantage.
The overall view of the Asian market predicts consolidation due to ongoing worries about the future of interest rates. The U.S. bourses were considerably lower, the European markets were mixed and flat, and it looks like the Asian markets will follow suit.
On Thursday, Hang Seng finished slightly lower due to weakness in the financial sector and inconsistent results from the technology and real estate industries.
The index dropped 125.51 points or 0.63 percent for the day to close at 19,925.74
19,907.58 and 20,157.24.
| Company or Brand Name | Share % drop |
| Alibaba Group | 1.46 |
| Alibaba Health Info | 1.94 |
| ANTA sports | 2.08 |
| China Life Insurance | 1.77 |
| China Mengniu Dairy | 3.14 ⬆️ |
| China Resources Land | 2.11 |
| CITIC | 0.67 |
| CNOOC | 1.66 ⬆️ |
| Country Garden | 2.11 |
| CSPC Pharmaceutical | 1.85 |
| Galaxy Entertainment | 0.86 ⬆️ |
| Henderson Land | 0.72 ⬆️ |
| Hong Kong & China Gas | 0.83 |
| Industrial and Commercial Bank of China | 0.97 |
| JD.com | 0.56 ⬆️ |
| Lenovo | 0.14 ⬆️ |
| Li Ning | 0.98 |
| Meituan | 1.90 ⬆️ |
| New World Development | 0.23 ⬆️ |
| Techtronic Industries | 5.50 ⬆️ |
| Xiaomi Corporation | 1.67 |
| WuXi Biologics | 0.19 ⬆️ |
| Hang Lung Properties | Unchanged |
The Dow plunged 543.54 points or 1.66 percent to finish at 32,254.86, while the NASDAQ tumbled 237.65 points or 2.05 percent to close at 11,338.35 and the S&P 500 sank 73.69 points or 1.85 percent to end at 3,918.32.
The Labor Department’s report, which revealed that initial unemployment claims increased more than anticipated last week, helped allay fears about a tight labour market, but it also led to Wall Street’s weakness.
As the day went on, buying interest declined as traders anticipated the release of the Labor Department’s more anticipated monthly jobs data later today. The report might significantly influence how quickly the FOMC decides to raise interest rates.
On Thursday, the price of crude oil declined once more, extending daily losses to three days in a row due to worries that the Federal Reserve’s aggressive policy tightening would halt global economic growth and decrease energy consumption. The April West Texas Intermediate Crude oil futures price declined.
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- Published By Team Hongkong Journalist
