Negative: Hong Kong stocks fell as investors react to Biden's exit and Trump's potential second term.

From South China Morning Post: 2024-07-21 22:50:05

Hong Kong stocks fell as investors considered the likelihood of Donald Trump winning a second term. The Hang Seng Index dropped 0.2% to 17,377.34, with the biggest decline in two months. Major regional markets also slipped. Japan’s Nikkei 225 fell 0.9%, South Korea’s retreated 1.1%, and Australia’s S&P/ASX 200 lost 0.7%.

President Biden withdrew from the US presidential race and endorsed Kamala Harris following poor debate performance. Current polls show Trump as the favourite, raising concerns with his trade policies. People’s Bank of China cut policy interest rates to stimulate growth post-Communist Party’s third plenum. Market reactions varied with decliners like Sunny Optical Technology and Haidilao International Holding, while Hebei Keli Automobile Equipment soared in Shenzhen.



Read more at South China Morning Post: Hong Kong stocks extend falls as Biden’s exit from US Presidential race fuels Trump trades