Hong Kong’s stock market could suffer further damage on Friday


(RTTNews) – The Hong Kong stock market ended lower in two consecutive sessions, losing more than 300 points or 1.5% along the way. The Hang Seng is now just below the 20,800 plateau and is expected to reopen lower on Friday.

The global forecast for Asian markets suggests a consolidation of concerns about the outlook for interest rates and the global economy. European and US markets were significantly lower and Asian exchanges are expected to open similarly.

The Hang Seng ended slightly lower on Thursday after property losses, oil company gains and a mixed picture for tech stocks.

For the day, the index lost 76.12 points or 0.36% to end at 20,793.40 after trading between 20,776.97 and 21,284.85.

Among assets, AAC Technologies fell 2.07%, while Alibaba Group rose 0.16%, Alibaba Health Info jumped 1.47%, ANTA Sports fell 0.06%, China Life Insurance lost 0.34%, China Mengniu Dairy fell 1.20%, China Petroleum and Chemical (Sinopec) gained 0.51%, China Resources Land fell 1.78%, CITIC fell 0, 84%, CNOOC rose 0.73%, Country Garden plunged 3.79%, CSPC Pharmaceutical jumped 1.88%, Galaxy Entertainment fell 1.31%, Hang Lung Properties gained 0.40 %, Henderson Land lost 0.47%, Hong Kong & China Gas slipped 1.04%, Industrial and Commercial Bank of China fell 1.27%, JD.com climbed 0.83%, Lenovo jumped 0.92%, Li Ning fell 0.08%, Meituan rose 0.12%, New World Development fell 0.99%, Techtronic Industries fell 1.43%, Xiaomi Corporation climbed 1.76% and WuXi Biologics fell 5.41%. ent.

Wall Street’s advance is broadly negative as major averages opened under pressure and saw losses accelerate as the day progressed, ending deep in the red.

The Dow Jones fell 1,063 points or 3.12% to end at 32,997.97, while the NASDAQ plunged 647.16 points or 4.99% to close at 12,317.16 and the S&P 500 rose. fell 153.30 points or 3.56% to end at 4,146.87.

The selloff on Wall Street came as traders took advantage of the rally following the Federal Reserve’s monetary policy announcement on Wednesday, which was less hawkish than some had feared.

But worries about rising rates, inflation, the economic outlook and the ongoing war in Ukraine remain, contributing to the sharp pullback on Wall Street. A sharp rise in Treasury yields also weighed as the yield on the benchmark ten-year note hit its highest level in three years.

Traders were also eagerly awaiting the release of the Labor Department’s closely watched monthly jobs report later in the day.

Crude oil futures settled higher on Thursday, benefiting from the European Union’s proposal to impose sanctions on Russian oil, although prices pared some gains as the dollar rebounded higher. purchase of safe havens. West Texas Intermediate crude oil futures for June ended up $0.45 or 0.4% at $108.26 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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