Hang Seng Rises 1.5%, AIA Group a Major Weigh
The Hang Seng Index weakened for the second consecutive day in Hong Kong trading on Thursday (June 4). The main index fell 1.5%, or 379.81 points, to 25,253.40, reflecting renewed selling pressure in the Hong Kong stock market.
The biggest decline in the index came from AIA Group Ltd., which fell 6.8% and was the main contributor to the Hang Seng's decline. Pressure on large-cap stocks like AIA made it even more difficult for the index to remain in positive territory.
Meanwhile, Contemporary Amperex Technology Co., or CATL, recorded the largest decline among the index components, with a 7.0% decline. This decline in shares added to negative sentiment, especially amidst pressure also affecting various major sectors on the Hong Kong stock exchange.
Overall, the market weakness was quite broad-based. Of the 90 stocks in the index, 75 declined, while only 12 managed to gain ground. All sectors moved down, with the biggest pressure led by shares in the trade and industrial sectors. (asd)
Source: Newsmaker.id
