Market Roundup

Hong Kong stocks weakened sharply throughout the day amidst rising China-US trade tensions. The Hang Seng Index opened higher before reversing course, extending its losses to over 700 points in the afternoon, bringing its total loss to 25,247 points, down 641 points, or 2.48%, and falling below the key 25,300 level. The H-share Index fell 247 points, or 2.67%, to 9,012 points. The Hang Seng Tech Index performed the worst, falling 243 points, or 4.05%, to 5,760 points. Total market turnover for the day was approximately HK$314.6 billion. Chip stocks led the decline, with ZTE (763) plunging over 12%, SMIC (981) down 7%, and Hua Hong Semiconductor (1347) down 7%.

Source: KGI Investment Products and Solutions Department

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