Hong Kong stock market rebounded from four-month low on Friday, 14 May 2021, as investors chased for bargain hunting, thanks to positive lead from Wall Street overnight after comments from Federal Reserve officials helped ease inflation fears.
At closing bell, the benchmark Hang Seng Index advanced 1.11%, or 308.90 points, to 28,027.57. The Hang Seng China Enterprises Index added 0.63%, or 64.96 points, to 10,404.95.
The sub-index of the Hang Seng tracking commerce & industry sector fell 0.03%, while the utilities sector added 0.47%, the properties sector added 0.13%, and the finance sector added 2.7%.
Federal Reserve Governor Christopher Waller said increases in prices above the Federal Reserve s 2 percent goal should be temporary and the Fed will not raise rates until it sees inflation above target for a long time.
Read more about Hong Kong Stocks slump to four-month low on Business Standard. At closing bell, the benchmark Hang Seng Index retreated 1.81%, or 512.37 points, to 27,718.67, a lowest level since January 7. The Hang Seng China Enterprises Index dropped 2.05%, or 216.58 points, to 10,339.99.
Read more about Hong Kong Stocks rebound on bargain buying on Business Standard. The sub-index of the Hang Seng tracking commerce & industry sector added 2.2% and the utilities sector added 0.17%, while the properties sector fell 0.75% and the finance sector shed 0.49%.
Hong Kong stock market finished session steep lower on Tuesday, 11 May 2021, on tracking fall on the Wall Street overnight and concerns about a surge in global commodity prices and an expected spike in inflation that could force central banks to hike interest rates.
At closing bell, the benchmark Hang Seng Index plummeted 2.03%, or 581.85 points, to 28,013.81, as total fifty out of fifty five constituents declined.
The Hang Seng China Enterprises Index tanked 2.03%, or 219.52 points, to 10,431.55.
The sub-index of the Hang Seng tracking commerce & industry sector fell 2.25%, the utilities sector declined 2.03%, the properties sector fell 1.91% and the finance sector shed 1.81%.
Higher commodity prices rattled markets, with copper and steel hitting record levels while futures contracts on iron ore also touched an all-time high on China s Dalian Commodity Exchange, prompting a warning from officials. China s latest inflation data also added to ongoing fears that policymakers will
Hong Kong stock market finished session marginal lower on Monday, 10 May 2021, as investors focused on the Chinese inflation data due on Tuesday after the Federal Reserve was likely to refrain from withdrawing accommodative policies too early amid disappointing US jobs data. At closing bell, the benchmark Hang Seng Index declined 0.05%, or 14.99 points, to 28,595.66. The Hang Seng China Enterprises Index fell 0.45%, or 47.93 points, to 10,651.07.
The sub-index of the Hang Seng tracking commerce & industry sector fell 0.6%, while the utilities sector was up 1.26%, the properties sector climbed 0.79% and the finance sector gained 0.31%.
Energy shares rose as crude oil futures rose on concern about disruption of supplies after cyber attack shut down a U.