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Trump led Harris in the presidential election. Hong Kong market fell sharply.
The market opened lower on Wednesday. Hang Seng index opened down 215 points, H share index down 82 points and technology index down 47 points. Meituan lost 1.44% for 27-point loss...
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Trump led Harris in the presidential election. Hong Kong market fell sharply.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The market opened lower on Wednesday. Hang Seng index opened down 215 points, H share index down 82 points and technology index down 47 points. Meituan lost 1.44% for 27-point loss. Alibaba lost 1.93% for 33-point gain. AIA lost 1.75% for 20-point loss. CCB lost 1.45% for 16-point loss. Ping An lost 2% for 11-point loss. Mainland developers fell. Longfor lost 3.24%. CR Land lost 1.65%. Shanghai composite index opened up 8 points. The market fell further after opening as Hang Seng index gained more than 300 points. JD lost 4.6%. Alibaba lost 2.7%. Meituan lost 2.7%s. Tencent lost 1.1%. HSBC lost 0.7%. Broker shares rose. Citic Securities rose 3.1%. CM Securities rose 4.2%. Haitong Securities rose 3.4%. SYWG rose 4.7%. Shanghai Electric continued its irrepressible rise and gained 16.6%, due to its robot business. Handset suppliers fell. Sunny Optical lost 2.8%. AAC lost 1.4%. Q-Tech lost 1.7%. The market fell further in midmorning when Trump’s lead widened. Hang Seng index lost more than 600 points. Alibaba lost 4.4% for 77-point loss. Meituan lost 5% for 93-point loss. Tencent lost 2.3% for 35-point loss. AIA lost 3.2% for 36-point loss. Hang Seng index fell to a low of 20370 points, down 636 points. Shanghai composite index closed up 5 points. Hang Seng index closed down 548 points, H share index down 215 points, technology index down 142 points. Turnover was $112 billion.

The market was little changed in early afternoon, as Hang Seng index remained down more than 500 points. Alibaba lost 3.7% for 64-point loss. Meituan lost 3.35% for 63-point loss. AIA lost 2.95% for 34-point loss. Tencent lost 2.1% for 33-point loss. JD lost 5.1% for 23-point loss. CCB lost 1.8% for 20-point loss. BYD lost 4.15% for 21-point loss. HK Exchanges lost 3.15% for21-point loss. Ping An lost 3.5% for 19-point loss. Techtronic lost 6.2% to become the top loser for 17-point loss. Consumption stocks fell. Budweiser lost 4.8%. Haier Smarthome lost 4.65%. CR Beer lost 4.1%. Auto shares fell. BYD lost 3.87%. Geely lost 3.6%. Li Auto lost 2.4%. Nio lost 3.7%. Virtual assets shares rose on Trump’s expected victory. Grandshores rose 29%. OSL rose 13.5%. OKG Technology rose 9.2%. The market recovered slightly in midafternoon, as Hang Seng index fell more than 300 points. Shanghai composite index closed down 3 points. The market fell further near the close. Hang Seng index closed down 468 points, H share index down 193 points and technology index down 119 points. Turnover was $216.8 billion.

Overnight, European markets fell. DAX lost 217 points. CAC lost 37 points and FTSE lost 6 points. US markets soared on Trump’s election. Dow Jones rose 1508 points. S & P rose 146 points and Nasdaq rose 544 points. Hong Kong ADR’s lost 80 points and night future lost 83 points. We expect the market to fall today.
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