Asian equities had another rough day to end a rough week, though Hong Kong and the Philippines were outliers as both managed small gains.
For the week, most markets were off -1% to -2% though South Korea was off an especially deep -3.54%, India was lower by -3.85%, Malaysia was off by -2.88%, and Taiwan was down -3.16%.
Remember that Hong Kong’s uptrend and India’s downtrend may be causing active manager pain due to their being underweight China internet and overweight India. If this early trend can stick, it could “force” big funds back into the space. Another catalyst is the simple reality that the US dollar may strengthen on Fed rate hikes, posing a significant headwind for EM currencies.
The Hang Seng was up +2.36% for the week while Shanghai was up +0.26% thanks to its value skew and Shenzhen was down -1.74% thanks to its growth skew. Overnight, the Hang Seng gained +0.05% on volume that was down -13.57% from yesterday, which is 95% of the 1-year average. That’s not a bad volume day for Hong Kong as the Hang Seng is right at the 25,000 level. Hong Kong-listed internet stocks were mixed overnight as the highest volume stocks by value traded were Tencent, which gained +0.
Tencent’s WeChat and Bytedance’s TikTok are being included in the US technology anti-trust bill though the bill might have trouble passing. TikTok has already moved its US customer servers to American soil while Tencent has very few US users .
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Hong Kong Stocks Become An Oasis Of Green In A Sea Of Red, Week In ReviewAsian equities had another rough day to end a rough week, though Hong Kong and the Philippines were outliers as both managed small gains.
Baca lebih lajut »
U.S. stocks end lower Friday, Nasdaq books worst week since March 2020U.S. stock indexes closed lower Friday, capping another punishing week for growth and technology stocks as investors await a Federal Reserve update next week...
Baca lebih lajut »
First Country: New Music From Aaron Watson, Brothers Osborne and MoreThis week's FirstCountry includes new releases from Aaron Watson, Brothers Osborne and more
Baca lebih lajut »
Red Giant Stars: Facts, Definition & the Future of the SunOur sun will become a red giant in about five billion years.
Baca lebih lajut »
How omicron pushed Hong Kong to ramp up its ‘zero-Covid’ strategyAs the coronavirus pandemic enters its third year, traveling to Hong Kong is more complicated than ever, if you can get here at all.
Baca lebih lajut »
Hong Kong warns of worsening COVID outbreak as leader defends hamster cullHong Kong leader Carrie Lam on Saturday warned that COVID-19 infections could be growing exponentially in a congested residential area of the city and that overall cases had also spread due to an outbreak in pet hamsters.
Baca lebih lajut »