Political Distress in Hong Kong Causing Downfall in Stock Market

Trade, Recession, Share

There was a decline of 0.4 % and 0.7% on Tuesday for the Hang Seng Index and the China Enterprises Index respectively,  as reported by Reuters. On that note, the indexes closed at 25,527.85 (Hang Seng) and 10,035.78 (China Enterprises).

China has been making use of the Stock Connect scheme to invest in HK Shares. They have been investing for the last 16 consecutive weeks, as reported by Caixin. The sub-index of the Hang Seng saw dips in  energy shares by 0.9%, while the IT sector slipped 0.26%, the financial sector ended 0.4% lower, and the property sector fell 0.39%. 

Top Gainers/Decliners

The companies which gained the most were:

  • CSPC Pharmaceutical Group Ltd gained 1.5%
  • New China Life Insurance Co Ltd up 0.48%
  • Ping An Insurance Group Co of China Ltd  gaining 0.33%.

The biggest decliners were:

  • Geely Automobile Holdings Ltd  by 2.81%.
  • Dongfeng Motor Group Co Ltd fell by 4.29%
  • Guangzhou Automobile Group Co Ltd declined by 3.22%
  • China Railway Group Ltd fell by 2.72%.

 There was a gain of 0.21% for the Shanghai Composite Index at 2,930.15 (Sahu, 2019).

Written by

Cheryl Toh

Last updated on

September 4th 2019, 4:46 pm

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