© Reuters. Hong Kong stock market closes: Hangke Index plunges more than 4%, constituent stocks collectively sink, but Beishui buys on dips
Investing.com – On Friday (10th), the Hong Kong stock market opened lower and closed sharply lower. The Hang Seng Index fell more than 2%, and the Hang Seng Technology Index fell 4.6%.
The geopolitical game has ignited investor concerns after news that U.S. President Joe Biden plans to restrict U.S. companies from investing in China’s technology sector.
However, Beishui once again bought on dips, and the southbound funds bought 3.224 billion yuan in net today, with a net inflow of 4.784 billion yuan, especially in the afternoon to accelerate buying.
As of market close:
- It fell 2.01% to 21190.42 points, down 2.17% for the whole week;
- fell 1.73% to 21,222.0 points;
- It fell 4.58% to 4362.22 points, down 5.87% for the whole week;
- It fell 2.56% to 7126.19 points, down 3.53% for the whole week.
The constituent stocks of the Hang Seng Technology Index collectively fell, and GDS (HK:) (NASDAQ:) led the decline, with a drop of 11%, followed by Kingdee Software (HK:), which fell 8.21%. Baidu (NASDAQ:) (HK:) Fell 7.39%, Tencent Holdings (HK:) (OTC:), Alibaba (HK:) (NYSE:) fell more than 3%.
New car-making forces also fell sharply. Weilai (HK:) (NYSE:) fell 6.56%, Xiaopeng Motors (HK:) (NYSE:) fell 7.94%, Ideal Auto (HK:) (NASDAQ:) fell 7.64% .
On the other hand, Standard Chartered (HK: ) rose more than 4%, despite clarification that First Abu Dhabi Bank has no plans to acquire Standard Chartered.
[This article is from Yingwei Caiqing Investing.com, to read more, please log in to cn.investing.com or download Yingwei Caiqing App]
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Editor: Liu Chuan
