Hang Seng rebounds by 0.59% saved by the technology sector

Hang Seng rebounds by 0.59% saved by the technology sector

Technology saved Hang Seng, the main reference index of the Hong Kong Stock Exchange today. It closed with gains of 0.59% despite the poor performance of the services sector.

Selective Hong Kong finished at 28,194.09 points. Meanwhile, the Hang Seng China Enterprises grew by 0.95%.

Two of the four sub-indices are closed in the red. The services sector lost 2%, and Real Estate dropped by 0.14%.

In contrast, Commerce and Industries grew by 1.38%, and Finance, a slight 0.07%.

Companies that experienced significant losses in the Services sector were Power Assets, sinking by 2.11%, and CKI Holdings, yielding 1.38%.

Technology companies pulled the Hong Kong stock market on Monday. Strong increases for Meituan (4.18%) and Tencent (3%) stood out. 

The Alibaba group saw moderate gains of 0.39%.

Meanwhile, financial sector stocks saw widespread declines. ICBC lost 1%, and the Bank of China yielded 0.32%. Insurers such as AIA gained 0.68%, and Ping An added 0.49%.

Among state telcos, China Unicom closed flat, and China Mobile gained 0.51%.

Finally, in the real estate sector, Link Reit lost 1.16%. Hang Lung Properties sank by 0.82%. On the other hand, Longfor Group climbed by 1.44%, and Country Garden added 0,64%.

The trading volume for the session was HK $166.52 billion.


Southeast Asian stocks start the week with mixed results

Southeast Asia started the week with mixed results. It happened when several countries in the area are suffering their worst coronavirus outbreaks and are extending measures to contain the pandemic.

The most significant rise was in the Singapore stock market. Meanwhile, the strongest fall was recorded in Indonesia, close to two percent.

In Singapore, the city-state stock market advanced by 24.67 points or 0.81%. The Straits Times composite indicator stood at 3,079.69 units.

In Malaysia, the Kuala Lumpur Stock Exchange gained 0.94 points or 0.06 %, and the selective KLCI closed at 1,583.46 units.

In Indonesia, the Jakarta stock dived by 1.76%, and the JCI index ended with 5,833.86 units.

In Thailand, the Bangkok stock market fell 0.32 points or 0.02%, and the SET index settled with 1,549.16 units.

In the Philippines, the Manila Stock Exchange increased by 14.22 integers, 0.23%, and the PSEi composite index closed at 6,283.58 points.

In Vietnam, the Ho Chi Minh stock (the former Saigon) closed the trading day with 1,258.70 units. It dropped by 7.66 integers or 0.60%.

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