Hong Kong stocks recover slightly after sharp falls

A person wearing a protective mask walks past signage for Hong Kong Exchanges & Clearing Ltd. (HKEX) displayed at the Exchange Square complex in Hong Kong, China, on Wednesday, Aug. 19, 2020.

Roy Liu | Bloomberg via Getty Images

Hong Kong stocks were volatile while mainland China markets continued to slide Tuesday, while other major Asian markets rose after Wall Street’s second straight positive session.

Tea Hang Seng index in Hong Kong recovered slightly to trade 0.87% higher after falling earlier in the session. Hang Seng Tech was nearly 4% higher after losing more than 3% at the open.

Chinese tech stocks in the US and the Hang Seng index and dropped sharply to start the week with investor sentiment turning following the conclusion of the China’s party congress and the release of a slew of delayed economic data.

Mainland China’s Shanghai Composite also reversed its direction to rise 0.74% while the Shenzhen Component added 0.524%.

Tea Nikkei 225 added 1.21% and the Topix climbed 1.25%. In Australia, the S&P/ASX 200 was up 0.25%.

South Korea’s Kospi was 0.35% higher, while the Kosdaq gained 0.17%. The MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.44%.

Singapore’s inflation increased 7.5% in September, with core inflation rising 5.3%, official data showed Tuesday.

Overnight in the US, the Dow Jones Industrial Average climbed 417.06 points, or 1.3%, to close at 31,499.62. The S&P 500 rose about 1.2% and closed at 3,797.34. The Nasdaq Composite added nearly 0.9% to end at 10,952.61.


Leave a Comment

Your email address will not be published.