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.
Shanghai equities are intact, Hong Kong shares rally
On Wednesday, Shanghai shares didn’t change at the close of trade because the surge of stocks of transport companies as well as producers of raw materials compensated the dive in securities of financial institutions and real estate companies.
The CSI300 blue chip index went down 0.2% hitting 3.837.35, the Shanghai Stock Exchange's Shanghai Composite Index kept to the closing level of the previous trading session - 3.115.18.
Industry indexes were generally mixed. The real estate sector index slumped by 1.1%.
The transport sector managed to grow led by equities of China Southern Airlines that soared by 5.1%.
Paper telecommunications sector companies were nearly intact after the news that the Chinese telecommunications equipment producer ZTE Corp signed a principled agreement with America. The given pact is expected to remove the previously imposed limitations of the US Department of Commerce.
The largest percentage rally in the Shanghai Composite Index was demonstrated by the equities of Hangzhou Advance Gearbox Group Co Ltd that jumped by 10.04% and also Wuxi New Hongtai Electrical Technology Co Ltd and Shanghai Shine-Link International Logistics Co Ltd that soared respectively 10.03% and 10, 02%.
Shandong Jintai Group Co Ltd dived 8.03%, Tongwei Co Ltd as well as Shangying Global Co Ltd headed south respectively 6.01% and 5.75%.
The Hong Kong stock market concluded the trading session up, showing surge for the fifth consecutive trading marathon. At the same time, market participants kept closely watching the development of the situation with trade talks between China and the United States.
Besides this, the index of Hong Kong Stock Exchange Hang Seng soared by 0.5% hitting 31.259.10. As for the index of Chinese companies traded in Hong Kong, it managed to gain 0.2% being worth 12.283.58.
The top performers included shares of AAC Technologies Holdings Inc that soared by 9.28%.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
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?