Asian equities bounce back

On Tuesday, Asian equities managed to find their footing following some initial softness because Hong Kong’s benchmark is braced for setting a record closing maximum.

The Hang Seng HIS concluded morning trade 1.3% higher reaching 31751.60. The benchmark rebounded from a Monday afternoon selloff, which concluded the index’s record 14-day winning marathon.

Driving Monday’s pullback turned to be firm afternoon selling in China’s equities, in particular in Shenzhen 399106. Meanwhile, the ChiNext Price Index 399006, tracking new-economy equities there, went down 3% on Monday, demonstrating the worst performance since November. The index concluded Tuesday morning trade 0.1% higher. At the same time the Shanghai Composite that enjoyed 11 winning days, concluded Monday 0.2% higher.

The fast tempo of rule changes carried out by the China Securities Regulatory Commission to tame lending in China’s unruly shadow banking sector has affected investor confidence, as financial analysts told.

Similar

15.10.2021 12:36 What will move the market on October 18-22?

The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?

22.09.2021 16:37 What to expect from Microsoft event?

On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.

15.09.2021 14:33 Apple event surprised traders

Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.