Alibaba, JD.com pace stock losses in Hong Kong
Chinese technology stocks tumbled in Hong Kong, tracking a slump in US peers and digital assets as traders turned cautious on policy tightening risks and the city recorded the most Covid-19 cases in 18 months. The Hang Seng Tech Index lost 2.8 per cent at the close of Monday trading, the steepest in two weeks as Alibaba Group Holding and JD.com led the pullback for a second day. The Hang Seng Index retreated 1.2 per cent, while China’s Shanghai Composite Index erassed losses to end little changed.
Major Asian markets were mixed. Shares in South Korea retreated by 1.5 per cent, while Australian stocks lost 0.5 per cent. The Japanese benchmark rose 0.2 per cent. “The start of Fed hiking cycles tends to pose a modest headwind to Asian equities,” strategists at Goldman Sachs wrote in a report on Friday. Still, regional response to the onset of Fed tightening may not be as severe as previous episodes, given China’s easing bias, they added. Today’s decline halted a five-week rally in the broader market that has gained about US$225 billion in value, according to Bloomberg data. The Hang Seng Index has risen 6.7 per cent this year before today, the strongest start to a year since 2019.
If you wish to leverage on this , consider using DLCs
5x short $Alibaba 5xShortSG230627A(DWNW.SI)$
5x long $Alibaba 5xLongSG220608(DGFW.SI)$
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.
[财迷] [财迷] [财迷] [财迷] [财迷] [财迷] [财迷] [财迷] [财迷] [开心] [开心] [开心] [开心] [开心] [开心] [开心] [开心] [开心] [开心]
不错[开心] [开心] [开心] [开心]
[财迷] [财迷] [开心] [开心] [开心] [微笑] [微笑]