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Hong Kong shares followed A shares to fall sharply.
The Hong Kong market opened lower on Wednesday. Hang Seng index opened down 90 points, H share index down 42 points and technology index down 22 points. AIA lost 1.65% for 27-point...
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Hong Kong shares followed A shares to fall sharply.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The Hong Kong market opened lower on Wednesday. Hang Seng index opened down 90 points, H share index down 42 points and technology index down 22 points. AIA lost 1.65% for 27-point loss. CCB lost 1.24% for 15-point loss. Alibaba lost 0.94% for 14-point loss. JD lost 2.72% for 9-point loss. On the contrary, Techtronic rose 2.4% for 6-point gain. WH Group rose 3.76% to become the top gainer. A shares opened up 2 points. CLP suffered a electricity stoppage last night. Share price lost 2%. The market continued to fall after opening. Hang Seng index lost more than 100 points. Meituan lost 1.8% for 24-poitn loss. Alibaba lost 1% for 17-point loss. AIA lost 2% for 34-point loss. Ali Health lost 7% to lead the losers. Auto shares rose. Li Auto launched new model. Share price rose as much as 10%. XPeng rose 3.2%. Nio rose 2.8%. Geely rose 5%. BYD rose 1.4%. CK Life rose 50%. The price of coal rose sharply. Small coal miners attracted speculative money. Grand Ocean rose 2.1 times. Nan Nan rose 19%. Mongolian Energy rose 12%. The market fell further in midmorning. Hang Seng index lost more than 200 points. Meituan lost 3.7% for 50-point loss. Alibaba lost 2 .55% for 39-point loss. AIA lost 1.9% for 31-point loss. JD lost 5.45% for 17-point loss. Tencent lost 1.5% for 15-point loss. A shares closed the morning down 14 points. Hang Seng index closed the morning down 267 points, H share index down 113 points and technology index down 119 points. Turnover was $63.9 billion.

The Hong Kong market followed the lead of A shares and fell sharply. Hang Seng index lost more than 400 points. Meituan lost 4.5% for 60-point loss. AIA lost 35% for 50-point loss. Alibaba lost 2.65% for 39-point loss. HSBC lost 1% for 17-point loss. JD lost 6.3% for 20-point loss. Tencent lost 2% for 19-point loss. CNOOC lost 3% for 11-point loss. Petrochina lost 4.4%. On the other hand, Geely rose 5.2% to lead the gainers for 9-point gain. Mengniu rose 3.4% for 7-point gain. Technology stocks fell. Ali Health lost 16.7% to lead the losers. JD Health lost 16%. Ming Yuan Cloud lost 5.5%. PA Good Doctor lost 6.6%. Retail stocks fell. Lining lost 3.3%. Anta Sports lost 5.1%. Haidilao lost 3.5%. Speculative stocks continued to bloom. Koolearn rose 13%. Small coal miners soared. Grand Ocean rose 141%. Nan Nan rose 12%. Mongolian Energy rose 15%. Green Leader rose 33%. The market fell further in the closing stages. Hang Seng index lost more than 500 points. Meituan lost 4.8% for 64-point loss. AIA lost 3.1% for 52-point loss. Alibaba lost 3% for 46-point loss. A shares closed down 39 points. Hang Seng index closed down 551 points. H share index closed down 214 points and technology index down 207 points. Turnover was $126.9 billion.

Overnight, overseas markets fell. European markets lost about 1%. DAX lost 148 points. CAC lost 48 points and FTSE lost 63 points. US markets edged lower. Jerome Powell said the Federal Reserve would use all possible means to tame inflation. Dow Jones lost 47 points. S & P lost 5 points and Nasdaq lost 16 points. Hong Kong ADR’s rose 82 points. Night future rose 177 points. The Ant Group was reported to have obtained permission to establish a financial holding company. This means its listing will be imminent. We expect the market to rebound today.
 
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