The Hang Seng falls 2% on tensions between China and the US

By: News Team

Published on:

The Hang Seng falls 2% on tensions between China and the US

The benchmark index of the Hong Kong Stock Exchange, the Hang Seng, fell 2.02% today on renewed tensions between China and the US, which increased investors’ fears of new US sanctions on Chinese firms, especially in the technology sector.

The selective yielded 438.31 points to 21,222.16, while the index that measures the behavior of mainland Chinese companies listed on the Hong Kong parquet, the Hang Seng China Enterprises, was down 2.68%.

All sub-indices closed in negative: Trade and Industry (-2.83%), Real Estate (-2.24%), Finance (-0.71%) and Services (-0.71%).

The worst performers of the session were lens maker Sunny Optical (-6.86%) and Chinese e-commerce giant Alibaba’s healthcare services subsidiary (NYSE:DROOL), Alibaba Health (HK:0241) (-7,19 %).

On the other side of the coin were firms such as the water bottler Nongfu Spring (+0.9%) or the largest bank in Europe, HSBC (+1.25%).

The turnover of the session was 136,020 million Hong Kong dollars (17,332 million dollars, 16,062 million euros).

Leave a Comment