Hang Seng Suddenly Falls, What's Going On?
The Hang Seng Index fell 2.1% to 27,387.11 in Hong Kong. This was its biggest daily decline since November 21, after rising 0.5% the previous day.
The decline was led by the commerce & industrial sector, with all sectors weakening. Of the 88 stocks, 79 fell and only 9 rose—a sign of fairly even selling.
The two main drags came from large stocks: Alibaba fell 2.4% and was the biggest contributor to the decline, while CSPC Pharmaceutical plunged the deepest, down 10.2%.
Despite today's losses, the overall performance remains strong: the Hang Seng is still up 6.9% this month, and up 2.4% this week (heading for its best weekly gain since late November). 30-day volatility also rose to 16.83%, indicating the market is becoming increasingly volatile and prone to sharp movements. (asd)
Source: Newsmaker.id