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Persisted Selling Stress Expected For Hong Kong Shares

(RTTNews) – The Hong Kong inventory market on Friday ended the two-day worthwhile trot in which it had evolved nearly 140 facets or 0.9 percent. The Dangle Seng Index now sits staunch beneath the 16,225-point plateau and or no longer it’s expected to start in the crimson again on Monday.

The enviornment forecast for the Asian markets in negative, with persisted stress possible on the technology shares. The European markets had been down and the U.S. bourses had been mixed and the Asian markets settle to separate the variation.

The Dangle Seng performed modestly decrease on Friday following losses from the technology shares and a mixed describe from the property and finance sectors.

For the day, the index dropped 161.76 facets or 0.Ninety 9 percent to create at 16,224.14 after shopping and selling between 16,044.forty five and 16,254.90.

Among the many actives, Alibaba Community retreated 1.77 percent, whereas Alibaba Properly being Data skidded 1.51 percent, ANTA Sports dropped 1.35 percent, China Life Insurance slid 0.66 percent, China Mengniu Dairy and ENN Vitality both stumbled 2.31 percent, China Property Land sank 1.26 percent, CITIC lost 1.00 percent, CNOOC rallied 1.20 percent, Country Garden surged 3.26 percent, CSPC Pharmaceutical slumped 1.54 percent, Galaxy Entertainment shed 1.17 percent, Dangle Lung Properties jumped 1.23 percent, Henderson Land fell 0.67 percent, Hong Kong & China Gas develop to be as soon as down 0.fifty three percent, shed 0.76 percent, Li Ning tanked 2.90 percent, Meituan tumbled 2.51 percent, Fresh World Trend declined 1.59 percent, Techtronic Industries surrendered 2.50 percent, Xiaomi Company plunged 3.54 percent, WuXi Biologics plummeted 4.68 percent and Industrial and Industrial Bank of China and Lenovo had been unchanged.

The lead from Wall Twin carriageway is conflicted as the Dow opened greater on Friday and stayed that plot, whereas the S&P and NASDAQ spent the entire session beneath water.

The Dow rallied 211.00 facets or 0.56 percent to create at 37,986.40, whereas the NASDAQ tumbled 319.49 facets or 2.05 percent to entire at 15,282.01 and the S&P 500 sank 43.89 facets or 0.88 percent to shut at 4,967.23.

For the week, the NASDAQ plummeted 5.5 percent, the S&P tumbled 3.1 percent and the Dow rose 0.1 percent.

The steep tumble by the NASDAQ mirrored heavy promoting among shares of Netflix (NFLX) and AI darling Nvidia (NVDA). Reflecting the weak point in the sector, the Philadelphia Semiconductor Index dove by 4.1 percent to its lowest closing level since early February.

Banking shares turned in a strong performance, using the KBW Bank Index up by 2.9 percent. Hobby payment-sensitive utilities shares additionally moved particularly greater amid a pullback by treasury yields, ensuing in a 1.8 percent soar by the Dow Jones Utility Average.

Oil costs moved greater on Friday as geopolitical tensions rose following Israel’s retaliatory attack on Iran. West Texas Intermediate Rude oil futures for Could also ended greater by $0.41 at $83.14 a barrel, though WTI impolite futures shed about 3 percent in the week.

The views and opinions expressed herein are the views and opinions of the writer and create no longer necessarily judge those of Nasdaq, Inc.

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