US stocks closed lower on Monday, the Dow fell for the fifth consecutive trading day and pressured the market. Affected by this, the Hong Kong Hang Seng Index opened 1% lower on June 19th and fell below the 30,000-point mark to 29999.01 points. ZTE’s post-mortem decline expanded to more than 25% in the afternoon and it was the lowest since July 2016.TencentTechnology, Country Garden and China Evergrande all fell.
The decline in the Hang Seng Index further expanded, with the current drop of 2.57% to 29529.35 points.
Hong Kong stocks also fell across the board, with no rise. Among them, coal, industrial products, information technology equipment, and semiconductors saw the largest drop, falling by more than 4%.
Image Source: Sina Finance
ZTE’s H shares expanded to 25.27%, to around HK$9.79, setting a new low since July 2016. A shares of ZTE Corporation are currently at a low limit for 4 consecutive days, selling more than 4.7 million contracts; the total market capitalization on the 4th has evaporated 45 billion yuan.
On the day of resumption on June 13th, ZTE H-shares plunged more than 37% at the opening and closed down 41%, the biggest one-day drop since its listing in 2004.
ZTE has said that it will resume the affected business activities as soon as possible after the refusal order is terminated. It will also comprehensively assess the impact of the April 15, 2018 refusal orders and agreements on the first quarterly report of 2018 and re-prepare and disclose the first quarterly report for 2018.
"Shares" Tencent Holdings fell 1.22% to 405 Hong Kong dollars, which is Tencent technology for the fifth consecutive trading day Yindie. China Ping An H shares opened 1.45% lower at HK$78.1.
In terms of the mainland property sector, Country Garden rose slightly after opening at 3%, which is currently at HK$15.86, down 2.1%. China Evergrande also opened down 2.22% to HK$22.2.
In addition, the Hang Seng state-owned enterprises index also opened lower, the afternoon's decline expanded to 3.33%, currently reported 11474.5 = 7 points.
As the trade friction between China and the United States has remained undissolved, and the pace of interest rate hikes in the United States has accelerated the sustained fermentation of information, the HSI has fallen for four consecutive trading days last week and has fallen 649 points or 2.1% for the whole week.
According to the analysis of the same bank's quoted noble capital, the current weaker external market has brought pressure on Hong Kong stocks, and the Fed said that raising interest rates several times during the year has cast a shadow over the lack of direction. At the same time, A shares have recently repeatedly probed and cracked down on investor confidence. Therefore, the Hong Kong stocks have been relatively weak in recent shocks.