HSTECH closes down on a knee-jerk selloff from Trump victory
$HSTECH(HSTECH)$ closes down 2.5% today on a knee-jerk selloff from Donald Trump victory and implications on US-China trade relations.
Oddly enough, it's the Chinese consumer plays that have suffered the brunt of the selling. $Alibaba(BABA)$ $BABA-W(09988)$ $JD.com(JD)$ $JD-SW(09618)$ $KUAISHOU-W(01024)$ $KUAISHOU TECHNOLOGY(KUASF)$ $Lenovo Group Ltd.(LNVGY)$ $LENOVO GROUP(00992)$ $NIO Inc.(NIO)$ $NIO-SW(09866)$ all down 4%+.
As the dust settles on the US elections, the market will shift towards the results of the ongoing NPC meeting that ends on Friday 11/8.
Chinese Cloud Computing major $Kingsoft Cloud Holdings Ltd(KC)$ is bucking the trend with a 10.7% gain following a 16% pop in Hong Kong trading. Company seen as an integral part of Beijing's "high quality development" drive putting technology at the center of its efforts to lift the economy.
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