, Hong Kong

Market Update: HSI down 0.43% as overseas virus resurgence worries weigh

The Hang Seng Index closed down 0.43% or 125.92 points to end at 28,952.83 on Monday, as fears over the resurgence of COVID-19 in overseas markets weighed on investor sentiment.

Bottom performers for the day were China Mengniu Dairy with $41.85 or 3.24% in loss, Geely Automobile which went lower by 2.93% or $21.55, and CSPC Pharmaceutical Group which declined 2.72% or $9.65.

The Tech Index, however, went higher by 0.21% or 17.49 points to close the day at 8,485.24.

Other major Asian markets also had a positive note ahead of the latest policy meeting of the Federal Reserve.

Meanwhile, Wall Street indexes traded mixed, as investors prepare for earnings season and ahead of the Federal Reserve meeting.

S&P 500 inched up 0.18% or 7.45 points at 4,187.62, whilst the Dow Jones Industrial decreased 0.18% or 61.92 points at 33,981.57. NASDAQ went higher by 0.87% or 121.97 points at 14,138.78.

The London blue-chip index also started the week in green, mainly due to rise in travel stocks, amidst announcements that the European Union may reopen its borders to non-essential travel from the US by summer.

FTSE 100 climbed 0.35% or 24.56 points to close at 6,963.12, whilst the FTSE 250 edged up 0.92% or 205.08 points at 22,577.34.

 

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Hongkong Business in your inbox
The manufacturing firm will issue 250 million shares in its global offering.
The Group recorded a $26.7m loss last year.
A new government rule plans to tighten public access to company director’s personal info.
But full employment is still a long way ahead.
The tighter border restrictions will take effect on 18 June.
The company will be offering $10m worth of incentives to promote vaccination.
Total exports for outward processing amounted to $134.6b during the quarter.
The airline earned an overall score of 4.6 out of 5 in the Air Cargo Excellence Survey.
It will increase the rate to 0.13% starting 1 August.
The new threshold applies to Hong Kong Electric and CLP Power Hong Kong.
The Singapore-Hong Kong air travel bubble has been pushed back again.
Changes in consumer behaviour as an impact of the pandemic may be here to stay.
The list includes policymakers, visionaries and entrepreneurs from all over the world.
Mortgages and credit card demand rose, whilst unsecured credit hit a historical low.
But it flagged points of exposure to macro-financial risks.