Shares of Hong Kong and China Declined on Friday
The shares in Hong Kong and China have declined on Friday by energy woes. The index value of Hong Kong’s Hang Shang has declined to 23, 159 by almost 0.4%. The shares in China has decreased posted one after the other loss in third week. However, the firmer bank and transport outperformed, which led the China’s Enterprise Index to go up by the end of the day.
The commodities in the US suffered heavy sell off with the decrease in the fourth session of energy and materials. Even, the oil prices which were balanced a day before has decreased.
The Chairman of the Asia multi-asset team at Barings Asset Management in Hong Kong, Khiem Do, asserted, “What you're seeing is some doubts about growth being amplified by a rush of speculative money rushing for the exits at the same time”.
Do said that the market in Asia was remained on the growth with the strong consumption and infrastructure.
Meanwhile, the China financials added gains and the Agriculture Bank of China also jumped by 2%. The Air China Ltd. and the Shipping Development Co Ltd. increased by 6% and 6.8% respectively.
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