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Investor sentiment turned risk-off. Global stock markets fell sharply.
Overseas markets fell sharply Monday night. The Hong Kong market opened lower on Tuesday. Hang Seng index opened down 94 points, H share index down 18 points and technology index ...
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Investor sentiment turned risk-off. Global stock markets fell sharply.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
Overseas markets fell sharply Monday night. The Hong Kong market opened lower on Tuesday. Hang Seng index opened down 94 points, H share index down 18 points and technology index down 28 points. HSBC lost 2% for 39-point loss. Meituan lost 1.4% for 30-point loss. On the contrary, Alibaba rose 0.7% for 14-point gain. Crude oil fell sharply overnight. Oil stocks led the fall. Petrochina lost 2.9% and CNOOC lost 2.6% to lead the losers. CSPC rose 1.5% to lead the gainers. A shares opened down 0.75%, Shanghai composite index opened down 26 points. The market rose momentarily after opening. Hang Seng index rose to a high of 27533, up 44 points. Then, selling pressure forced the market down again. Hang Seng index lost more than 200 points. HSBC lost 2% for 39-point loss. Tencent lost 1.5% for 31-point loss. CCB lost 1.8% for 24-point loss. Ping An lost 1.8% for 19-point loss. Meituan lost 1% for 20point loss. Geely lost 5.7% to lead the losers for 18-point loss. Xiaomi lost 2.3% for 23-point loss. CNOOC lost 4.1% for 13-point loss. The Evergrande Group of companies fell sharply again. China Evergrande lost 13.5%. Evergrande Vehicle lost 17%. SAAS shares were mixed. China Youzan rose 6.6%. Bili Bili rose 1.5%. However, Weimob lost 5.7%. Newborn Town lost 5%. A shares closed the morning down 17 points. Hang Seng index closed the morning down 326 points, H share index down 146 points and technology index down 121 points. Turnover was $73.47 billion.

Investor sentiment turned risk off. Global stock markets fell sharply. The market was little changed in the afternoon. Hang Seng index lost more than 300 points. Finance and technology stocks led the fall. Tencent lost 1.82% for 37-point loss. HSBC lost 1.87% for 36-point loss. Meituan lost 1.37% for 29-point loss. Ping An lost 2.34% for 24-point loss. CCB lost 1.8% for 24-point loss. Ali Health lost 7% to become the top loser. Haidilao rose 3.35% and MTR rose 2.5% to become the top gainers. SAAS shares fell sharply. Weimob lost 13%. Yeahka lost 9.3%. Newborn Town lost 7.3%. Ming Yuan Cloud lost 6.2%. Resources stocks fell. Petrochina lost 5%. Jiangxi Copper lost 4.95%. Chalco lost 6.6%. Angang Steel lost 5%. Maanshan Iron lost 5.6%. Linklogistics was attacked at shortsellers. Share price crashed 10% before suspension. A shares closed down only 2 points. The Hong Kong market rebounded slightly before the close. Hang Seng index recovered 100 points and closed down 234 points. H share index closed down 104 points, and technology index down 107 points. Turnover was $139.5 billion.

Overnight, overseas markets rebounded from Monday’s crashed. European markets recovered. DAX rose 83 points. CAC rose 50 points and FTSE rose 36 points. US markets rebounded more than 1%. Dow Jones rose 550 points. Nasdaq rose 64 points. and Nasdaq rose 224 points. Hong Kong ADR’s rose 37 points. Night future rose 57 points. We expect the market to rebound today.
 
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