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Hang Seng index fell below 20000 points.
The market fell sharply on Tuesday. Hang Seng index opened down 701 points, H share index down 294 point and technology index down 239 points. Technology stocks led the fall. Aliba...
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Hang Seng index fell below 20000 points.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The market fell sharply on Tuesday. Hang Seng index opened down 701 points, H share index down 294 point and technology index down 239 points. Technology stocks led the fall. Alibaba lost 7.6% for 95-point loss. Meituan lost 7% for 70-point loss. HSBC lost 2.96% for 59-point gain. Tencent lost 4.9% for 58-point loss. BYD was hurt by leaking of poison gas. Share price fell 0.1% for 36-point loss. JD lost 12% to lead the losers for 33-point loss. Techtronic rose 0.15% to become the only gainer. A shares opened down 33 points. Oil stocks fell. CNOOC lost 6.2%. Petrochina lost 5.3%. Consumption stocks fell. Haidilao lost 6.2%. Jiumaojiu lost 8.5%. Shabu Shabu lost 6.5%. Mengniu lost 4.1%. Anta lost 4.2%. Lining lost 4.3%. CR Beer lost 5.1%. Tsingtao Beer lost 5.2%. Budweiser lost 3.2%. Auto stocks fell. XPeng lost 13%. Li Auto lost 9%. Nio lost 12.5%. Technology stocks fell sharply. Huahong Semiconductor lost 16%. GDS lost 15%. Kuaishou lost 10%. Baidu lost 10%. Bili Bili lost 10%. Pharmaceutical stocks fell sharply. Zai Lab lost 24%. Beigene lost 12.5%. Hutchmed lost 9%. Innovent lost 6.6%. Country Garden lost 12.7%. CG Service lost 12.4%. The market rebounded on bottom fishing. Hang Seng index rebounded 200 points but still lost 500 points+. Yashili rose 14% on privatisation offer from Mengniu. A shares closed up 5 points. Hang Seng index fell to a low of 19179, down 823 points and closed down 565 points. H share index closed down 224 points and technology index down 189 points. Turnover was $84.2 billion.

The market rebounded from low levels in the morning. Hang Seng index lost about 400 points. Alibaba lost 5% for 62-point gain. HSBC lost 1.94% for 36-point loss. Meituan lost 3.1% for 31-point loss. BYD lost 7.2% for 29-point loss. Tencent lost 2% for 24-point loss. JD lost 8.56% for 24-point loss. CNOOC lost 4.2% for 16-point loss. However, Techtronic rose 4.2% against the market. CR Beer rose 1.7%. Lenovo rose 1.66%. China’s April exports grew only 3.9%, the lowest increase in two years. Resources stocks fell. Maanshan Iron lost 2.4%. Angang Steel lost 1.8%. Chalco lost 3.1%. Jiangxi Copper lost 1%. MMG lost 4%. China Coal lost 5.6%. China Shenhua lost 4%. Yankuang lost 4.4%. Geely invested RMB1.38 billion in Renault Korea. Share price lost 4.6%. Great Wall Motor lost 5.7%. Macau gaming stocks fell. Sands lost 7.1%. Galaxy lost 3.5%. BRII received indication of interest from more than ten buyers for its Covid drug. Share price rose 7%. Hang Seng index closed down 358 points. H share index closeddown 151 points and Nasdaq closed down 151 points. Turnover was $145.7 billion.

Overnight, overseas markets were mixed. European markets rose. DAX rose 154 points. CAC rose 31 points and FTSE rose 26 points. US markets first rose but fell at the close. Dow Jones closed down 85 points. S & P rose 10 points and Nasdaq rose 114 points. Hong Kong ADR’s lost 165 points. Night future lost 110 points. We expect the market to fall today. 
 
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