Southeast Asian stock markets ended Thursday’s session with mixed results. Malaysia and the Philippines experienced losses as investors await the release of US economic data tomorrow.
The Ho Chi Minh trading floor advanced strongly. The Bangkok market did not operate today because it is a public holiday in Thailand.
In Singapore, the city-state stock market increased by 3.96 points, 0.13 %. The Straits Times composite indicator stood at 3,165 units.
In Indonesia, the Jakarta stock dropped by 0.99%, and the JCI index finished with 6.09.51 units.
In Malaysia, the Kuala Lumpur Stock Exchange yielded 7.37 points, 0.46%, and the selective KLCI ended at 1,590.57 units.
The Manila Stock Exchange in the Philippineslost 49.82 integers, 0.73%, and the PSEi composite index ended at 6,791.87 points.
In Vietnam, the VN Index of the Ho Chi Minh stock closed with 1,364.28 units after gaining 1.75%.
Hang Seng falls under threat of more US sanctions on Chinese firms
The Hang Seng, the Hong Kong stock exchange benchmark index, closed today with a loss of 1.13%. It resulted from information that indicates that the US government led by Joe Biden, could empower the Treasury Department to sanction US companies.
Biden would reform the order that prevented US investment in companies considered close to the Chinese Army. Some of them included in the list are listed in Hong Kong. Their powers are currently in the hands of the Department of Defense, although there is no official confirmation in this regard.
The selective dropped by 331.59 points to 28,996.03. At the same time, the Hang Seng China Enterprises lost 1.14%.
All the sub-indices closed in the negative territory. Commerce and Industry yielded 0.96%, Services decreased by 1%, Real Estate lost 1.16%, and Finance declined by 1.34%.
In the Finance sector, the state-owned China Construction Bank lost 2.06%. As for real estate, Hang Lung Property slipped by 1.7%. Henderson Land broke away from the losses and was up 1.81%.
Today was not a good day for the digital trading giants, with losses for Tencent (2.07%), Alibaba (1.68%), and Meituan (1.41%).
The Chinese state telephone operators traded mixed. China Mobile decreased by 0.41% compared to China Unicom, which advanced 0.48%.
Sinopec and Petrochina did not register any change in their price among the public oil companies, while Cnooc appreciated a slight 0.23%.
The trading volume for the session was HK $138.930 million (the US $17.908 million).