Prospects of US and China presidents’ talk boosted Hang Seng

The Hang Seng closed today with advances of 0.85%, reflecting investors’ optimism at the prospect of an official dialogue between the presidents of China and the United States. 

The selective increased by 242.68 points to 28,801.27. Meanwhile, the Hang Seng China Enterprises advanced by 0.54%.

Among the sub-indices, Commerce and Industry boosted the most with a rise of 2.1%. On the other hand, the services sector dropped by 0.41%, and the finance sector lost 0.53%. HSBC shares had the worst day among financial services companies, losing 2.28% of its value. 

Meituan, Alibaba, and Tencent led the gains among digital companies. Meituan added 3.66%, Alibaba increased by 1.57%, and Tencent gained 0.67%. 

BYD, the world’s leading producer of electric vehicles, re-recorded increases. However, its gains are small compared to solar panel producer Xinyi Solar which surged by 8.73%. In addition, Wuxi Biologics added 9.35%. 

As for the Chinese state companies, oil firms stumbled. Sinopec dropped by 3.87%. China Mobile, a Chinese telephone operator, decreased by 0.32%.

The business volume of the session amounted to 205.5 billion Hong Kong dollars ((26.467 million US dollars). 

Southeast Asian shares ended with mixed results

The Southeast Asian Stock exchanges ended their trading sessions mixed. Singapore, Kuala Lumpur, and Ho Chi Minh stocks posted increases, while Jakarta, Bangkok, and Manila recorded losses.

These diverse movements resulted from widespread increases in the coronavirus cases in the region. Governments have been forced to extend restriction measures and increase pressure on health systems. 

Singapore’s city-state stock market added 0.19% or 5.85 points. The Straits Times composite indicator remained at 3,144.16.

The Jakarta stock dropped by 1.01% or 61.33, and the selective KLCI ended at 1,589.05.

The Bangkok stock slipped by 0.29% or 4.67 points, and the SET index ended at 1,612.98 units.

In the Philippines, the Manila Stock Exchange tumbled by 0.53% or 36.54 points, and the PSEi composite index ended at 6,851.38 points.

The VN Index of Ho Chi Minh in Vietnam settled at 1,377.77 units after climbing by 1.31% or 17.85 points.

The Dax falls on the last day of the week

The Dax came under pressure on Friday. The German benchmark index lost 1.33% to 15,517.80 by early afternoon. With the price slide, the Dax has moved away from its record high of 15,800 points, reached on Monday. 

As for the EuroStoxx 50, the leading index of the Eurozone plunged by 1.3%