Hong Kong stocks track Asian markets lower on lockdown worries


SHANGHAI: Hong Kong stocks ended lower on Tuesday, tracking other Asian markets amid concerns about fresh pandemic lockdowns in Europe.

At the close of trade, the Hang Seng index was down 233.84 points or 0.98% at 23,716.85. The Hang Seng China Enterprises index fell 0.66% to 9,576.81.

The sub-index of the Hang Seng tracking energy shares dipped 1.9%, while the IT sector dipped 0.15%, the financial sector ended 0.96% lower and the property sector dipped 1.08%.

The top gainer on the Hang Seng was China Mengniu Dairy Co Ltd, which gained 1.14%, while the biggest loser was Geely Automobile Holdings Ltd, which fell 4.38%.

New pandemic measures in the UK set off declines in airline, hotel and cruise companies in both European and U.S. markets, spurring fears about further restrictions.

Hong Kong shares of HSBC and Standard Chartered weakened further as global banking stocks remained under intense pressure on reports about financial institutions allegedly moving illicit funds.

Britain-based HSBC Holdings Plc and Standard Chartered Plc were among the lenders named in the report by the International Consortium of Investigative Journalists and based on leaked documents obtained by BuzzFeed News.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.26%, while Japan's Nikkei index closed up 0.18%.

The yuan was quoted at 6.7922 per U.S. dollar at 08:11 GMT, 0.18% firmer than the previous close of 6.8044.

At close, China's A-shares were trading at a premium of 46.63% over Hong Kong-listed H-shares. - Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Hang Seng , HSBC , Standard Chartered

   

Did you find this article insightful?

Yes
No

Next In Business News

Malaysia Airlines offers subsidised tickets to boost domestic tourism
O&M business drives Serba Dinamik profits higher in Q3�
Top Glove confirms temporary stoppage of production plants in Klang due to Covid-19�
Soybeans touch 4-1/2 year high of $12 on supply concerns, high demand
Ringgit closes higher vs US$ at 4.0880
CPO futures close higher at RM3,518
Boustead Plantations stages turnaround in 3Q with RM17.9m net profit
US dollar falls to 2018 lows as vaccine optimism damps haven demand
HLT Global posts lower Q3 profit, as operating cost jumps�
PRG returns to black in 3Q with RM19mil net profit

Stories You'll Enjoy