Worst week since 2008 looms for Hong Kong shares

The Hang Seng Index, which closed down 4.9 percent at 17,912.0 points on 22 September 2011, was down 7.9 percent on the week.

A Reuters report said, “Hong Kong shares are set to weaken further on Friday, poised for their worst week since the 2008 financial crisis as investors look to extend a selloff to reduce riskier holdings as global recessionary fears escalate.”

Meanwhile the China Enterprises Index finished down 6.3 percent at 9,202.7 points and was down 10.2 percent on the week.

“Thursday's decline left the Hang Seng Index technically oversold and in a gap on the charts that formed between the high on July 14, 2009 at about 17,896 and the low on July 15, 2009 at about 18,030,” noted the report.

View the report here.

Join Hong Kong Business community
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!

Top News

HKTDC signs first MOU with Singapore-based bank
The partnership also aims to generate job opportunities and strengthen communities across both regions.The Hong Kong Trade Development Council (HKTDC) signed a Memorandum of Understanding (MOU) with United Overseas Bank Hong Kong Branch (UOB Hong Kong) at the ASEAN Conference 2025 in Singapore, a first of such a partnership for Hong Kong.The MOU aims to strengthen regional ties and promote sustainable growth by leveraging UOB’s extensive regional network and financial expertise, alongside HKTDC’s strengths in trade promotion, to access new markets, resources and professional knowledge.The MOU also promotes local enterprise development and economic resilience by matching local value chains with foreign direct investments(FDI). 
Financial Services
OCBC Bank Hong Kong sets up team to support entrepreneurs
OCBC Group is aiming to disburse S$5b in loans to entrepreneurs by 2028
Hong Kong and Singapore investors divided on risk exposure over next 12 months
Inflation is expected to remain subdued in the region, with only 25% of Asia respondents predicting a rise, the lowest across all surveyed geographies.