The pressure from China continues: Hong Kong is cut by over 5% led by tech giants


The declines in Hong Kong are exacerbated and the Hang Seng Index is down more than 5%, led by major technology companies, in response to tougher Chinese government regulations.

Shiomi shares cut more than 4% in a relatively high trading volume, Alibaba Health Information Technology – a provider of information and content services in the field of healthcare from the Alibaba Group – collapses and loses 19%. Maitouan (“Chinese Amazon”) and the Haidilao restaurant chain are also plummeting, losing 12%. Technology giant Tencent continues its negative momentum from yesterday, shedding another 9%, and the Alibaba Group’s share is down 6.7%.


European Trading Day opens with price declines. The DAX is down 0.6%, the Potsy is down 0.8% and the CAC is down 0.4%. Decreases are also recorded on the Amsterdam, Madrid, Zurich, Milan, Brussels and Stockholm stock exchanges, while the stock exchanges in Vienna and Lisbon are strengthening.

The declines, among others, are led by the major banks in the UK, which are recording declines this morning. Barclays (who will publish second.quarter results tomorrow) is down 0.6%, Lloyds is down 1.2%, and the standard charter is down 1.4%. The French credit bank Agricole is also losing ground, as is the German Deutsche Bank.

In China, trading closed down. The Shenzhen index was cut by almost 3%, the China 50 index lost 4%.


The declines in Asia are intensifying, and now the indices in Shanghai and Shenzhen are also losing ground and falling 0.5% each. The decline in the Hong Kong index has intensified to over 2%. In Japan, the Nikkei closed up 0.4%, and the Sydney index strengthened similarly.

Bitcoin strengthened slightly and rose to $ 37.2 thousand.


The Asian stock markets have a mixed trend this morning, with the Nikkei index up 0.5%, the Sydney Stock Exchange up 0.6% and setting a new record, the Shanghai index up 0.1% and the Shenzhen index trading unchanged.

The index in Hong Kong is still affected by the Chinese government’s regulatory restrictions (which yesterday led to sharp declines of 2% .4% on the China and Hong Kong stock exchanges) and retreated 1%, with declines led by Tencent and Alibaba – which also lost ground on Wall Street last night.

Prominent in Tokyo is Rakuten, an e.commerce, finance and media company (the fourth largest mobile operator in Japan), which is down 7% this morning in turnover. On the other hand, car shares are recording decent increases, including Mitsubishi, Nissan, Toyota and Honda. Mazda, on the other hand, weakens slightly.

The reporting season on Wall Street is at its peak. Yesterday after the end of trading Tesla Published its second quarter results and the stock climbed in late trading. The company exceeded expectations, first reporting more than $ 1 billion in quarterly net profit. Revenue was about $ 12 billion and earnings per share reached $ 1.45, with analysts’ expectations at 98 cents.

Tonight at the end of the trade, the results of the technology giants will be announced Dark , Google andMicrosoft , And the quarterly results of visa , Starbucks , AMD andCheesecake Factory – During the trading day General Electric and.UPS Will publish their reports.

Last night the indices in New York closed with small price increases. This morning the futures contracts on the indices are trading at slight declines of up to 0.1%. US government bonds are strengthening slightly, with 10.year yields rising to 1.28%.

In the oil segment, price increases of 0.3% .0.4% are recorded, with WTI oil rising to $ 72.1 per barrel and Brent oil rising to $ 74 per barrel.

After the rally that took place yesterday in the crypto market, and bounced Bitcoin over $ 39,000, today the market has calmed down and the big virtual currencies are losing some height. Bitcoin drops to $ 36.8 thousand (still up 24% from last week), Heather drops to $ 2,180 (26% more than last week).

By Editor

Leave a Reply