Hong Kong Stocks End Sharply Lower With Losses Across Sectors -- Market Talk

Dow Jones2022-04-19

0858 GMT - Hong Kong stocks fell sharply after returning from a long holiday weekend, with the benchmark Hang Seng Index shedding 2.3% to close at 21027.76. KGI Securities in a research note attributes the weakness to the recent sluggish A share performance, China's soft economic data for 1Q despite better-than-expected GDP growth, as well as rising U.S. Treasury yields, which tend to draw funding away from Asian equities. China Merchants Bank led losses on the index with an 11% drop after its board voted to remove its president. Sportswear makers Li Ning and Anta dropped 7.3% and 5.2%, respectively, after the latter posted disappointing 1Q sales figures. Tech companies also weighed on the market, with Alibaba Health losing 6.0% and Meituan falling 5.9%. (yifan.wang@wsj.com)

$(END)$ Dow Jones Newswires

April 19, 2022 04:58 ET (08:58 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Mylo
    2022-04-20
    Mylo
    Like me pls
  • oliana
    2022-04-19
    oliana
    Ok
  • Dalang
    2022-04-19
    Dalang
    Interesting
Leave a comment
3