Hong Kong stocks tumble 3.5% 11 October 2018

Daniel Fowler
October 14, 2018

Chinese tech stocks traded in the United States are set to take hit Thursday as both tech stocks and Chinese stocks have been punished overnight.

The benchmark Hang Seng Index tumbled by 3.54 percent, or 926.70 points, to close at 25,266.37. He said it's hard to predict how markets in China will fare next.

Hong Kong retail investors who trade callable bull/bear contracts actually made a profit overall.

There was net selling of mainland shares to the tune of about 3.5 billion yuan (RM2.1 billion) through the connect scheme linking Hong Kong and Chinese markets.

JAKARTA - Indonesian shares closed higher by 53.66 points, or 0.94 percent, to a level of 5,766.49 on Friday. Gainers outnumbered losers by 293 to 131.

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One Shanghai-based trader expects the market will find some support given it has been losing altitude over several months, while USA stocks are falling from a high point. Tencent Holdings Ltd., the most valuable stock listed in Asia, slid 7.3% and was in line for its biggest loss since October 2011.

The Shanghai stock index is below its 50-day moving average and below its 200-day moving average.

This current fall in prices seems to be a knock-on effect of a similar dip in Wall Street stock indexes which suffered their worst fall in eight months last night, according to an article published by The Financial Times this morning. Trading volume stood at 288.6 million shares worth 6 trillion won (5.3 billion US dollars).

The index fell 5.2 percent on Thursday, ending at 2,583.

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