Hang Seng Index shows sideways trading movement

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18th June 2024 – (Hong Kong) Hong Kong Stock Exchange (HKEX) will remain operational despite challenging weather conditions and will implement continuous trading starting from 23rd September. The Hang Seng Index opened higher by 25 points at 17,961, briefly surging 92 points to reach 18,028. As of the latest update, it recorded a gain of 80 points or 0.44%, closing at 17,979. At 11.44am the Hang Seng Index showed a slight decline with a decrease of 49.75 points or 0.28%, settling at 17,886.37. The H-share index, representing mainland Chinese companies, rose by 21 points or 0.33%, settling at 6,394. Meanwhile, the technology sector exhibited stability, with Tencent edging up by 0.1%, Alibaba rising by 0.6%, Meituan dropping by 0.5%, JD.com climbing 1.5%, Xiaomi gaining 0.6%, and Kuaishou surging by 0.9%.

Individual developments were observed in the financial sector, as HSBC Holdings rose by 0.6%, Hong Kong Exchanges and Clearing increased by 0.1%, AIA Group fell by 0.1%, and Ping An Insurance advanced by 0.5%. Among the blue-chip stocks, Sunny Optical, the best performer, saw a notable increase of 5.2%, while AAC Technologies rose by 4.5% and BYD Electronics surged by 2.1%.

BYD faced a decrease in stock price after Warren Buffett’s investment flagship, Berkshire Hathaway, reduced its holdings. However, the stock managed a modest increase of 0.2%.