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Shares of China and Hong Kong are falling

Shares of China and Hong Kong are falling

Shares of China and Hong Kong are falling
September 23
14:30 2016

Securities of China are falling during the Friday’s non-intensive session. The fall is due to the impact of the real estate sector and profit-taking after a substantial increase at the previous bidding.

CSI300 index, which fixes the share prices of the largest companies that are traded in Shanghai and Shenzhen, has lost 0.5 per cent and amounted to 3.275,67 points. The Shanghai stock exchange index has lost 0.3 percent and ended the session at the mark of 3.033,90 points.

CSI300 Index has risen by 1.1 percent, SSEC – by 1 percent for the week.

Securities prices of real estate sector have suddenly fallen in price after the rally on the session on the eve.

Vanke shares, rising to 9.7 percent on Thursday, have fallen by 5.6 percent.

According to experts, the small trading volume can be explained by the fact that China is going to celebrate the National Day of the People’s Republic of China.

Markets will be closed on 30 September and will start working on Monday, 10th October.

Yu Wang, specialist at Pacific Securities said: “Many investors are not in the mood to trade in anticipation of such long weekends.”

On Friday the Hong Kong stock market has closed the trading with the negative dynamics due to the fall of financial stocks and reducing the inflow of the Chinese capital. This has happened due to the fact that investors have taken profits after a rally on the previous session on the background of the US Federal Reserve decision.

Hang Seng Index has lost 0.3 percent and became equal to 23.686,48 points. At the same time the index of Chinese companies traded in Hong Kong, has lost 1.0 percent and closed at 9.796,01 points.

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