Hong Kong Stocks Trim Weekly Advance, HSBC Falls 3.5%

South China Morning Post2023-03-24

Stocks are still on course for the first back-to-back weekly advance since January as money managers reload their fundsCentral banks continue to guard against a banking crisis after recent failures in...

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miker9110
2023-03-25
miker9110
K
来人
2023-03-24
来人
Ok
rinl
2023-03-24
rinl
thanks for sharing

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The Tech Index climbed 0.8 per cent while the Shanghai Composite Index slipped 0.5 per cent.HSBC tumbled 3.5 per cent while Bank of China (Hong Kong) eased 0.2 per cent to HK$25.45. Country Garden dropped 2.6 per cent to HK$2.26 and China Resource Land weakened 1.7 per cent to HK$35.25. Alibaba Group Holding dropped 0.87 per cent and JD.com gained 0.31 per cent. Baidu rose 4.11%; XPeng fell 3.74%.The city’s stock market has regained US$2188 billion in capitalisation with its first back-to-back weekly wins since January, as some investors bet the correction from the January 27 peak has ended. Still, the rally has been undermined by a turmoil among midsize US lenders and the crisis at Credit Suisse.The Federal Reserve raised its key rate by a quarter-point this week, a ninth straight increase since the lift-off in March last year. 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