Hong Kong Stock Market May Open In The Red On Thursday

(RTTNews) – The Hong Kong inventory market on Wednesday snapped the four-day shedding streak during which it had plummeted greater than 1,470 factors or 7.1 p.c. The Grasp Seng now rests simply beneath the 19,825-point plateau though it could head south once more on Thursday.

The worldwide forecast for the Asian markets is combined to decrease, with know-how shares anticipated to take heavy injury amidst considerations over rates of interest. The European markets have been up and the U.S. bourses have been down and the Asian markets determine to separate the distinction.

The Grasp Seng completed modestly greater on Wednesday following beneficial properties from the know-how shares, casinos and oil corporations, whereas the properties have been combined.

For the day, the index jumped 190.87 factors or 0.97 p.c to complete at 19,824.57 after buying and selling between 19,474.03 and 20,083.49.

Among the many actives, AAC Applied sciences gained 0.36 p.c, whereas Alibaba Group dropped 0.41 p.c, Alibaba Well being Data jumped 3.77 p.c, ANTA Sports activities surged 6.40 p.c, China Mengniu Dairy shed 0.38 p.c, China Petroleum and Chemical (Sinopec) improved 1.04 p.c, China Assets Land plummeted 3.24 p.c, CITIC misplaced 0.25 p.c, Nation Backyard accelerated 4.31 p.c, CSPC Pharmaceutical rallied 2.78 p.c, Galaxy Leisure superior 1.33 p.c, Grasp Lung Properties retreated 0.70 p.c, Henderson Land added 0.48 p.c, Hong Kong & China Gasoline fell 0.12 p.c, Industrial and Business Financial institution of China sank 0.44 p.c, JD.com rose 0.10 p.c, Lenovo strengthened 1.98 p.c, Li Ning spiked 4.45 p.c, Meituan soared 6.32 p.c, New World Growth declined 0.88 p.c, Techtronic Industries tumbled 1.00 p.c, Xiaomi Company climbed 1.66 p.c, WuXi Biologics skyrocketed 6.48 p.c and China Life Insurance coverage and CNOOC have been unchanged.

The lead from Wall Road is broadly detrimental as the key averages shook off early power on Wednesday and accelerated into the crimson because the day progressed, ending nicely below water.

The Dow tumbled 326.63 factors or 1.02 p.c to complete at 31,834.11, whereas the NASDAQ plummeted 373.44 factors or 3.18 p.c to finish at 11,364.24 and the S&P 500 sank 65.87 factors or 1.65 p.c to shut at 3,935.18.

The weak spot that emerged on Wall Road got here as merchants digested a extremely anticipated Labor Division report displaying the annual fee of inflation slowed lower than anticipated in April.

The information added to considerations the Federal Reserve will increase rates of interest extra aggressively in an effort to deliver inflation down at a sooner fee, which analysts concern may result in a interval of stagflation or an outright recession.

Crude oil costs climbed greater on Wednesday, rebounding sharply from current losses because of information displaying a big drop in flows of Russian fuel to Europe. West Texas Intermediate Crude oil futures for June ended greater by $5.95 or 6 p.c at $105.71 a barrel.

The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.