Hang Seng Falls 1.2%, HSBC and Semiconductor Leading Weights
The Hang Seng Index closed down 1.2%, or 291.45 points, to 24,961.95 on Friday (June 5) in Hong Kong, marking its third consecutive day of decline. This close also marked its lowest level since March 31.
HSBC Holdings Plc was the main contributor to the index's decline, falling 3.1%, while Semiconductor Manufacturing International Corp. recorded the largest decline, falling 7.2%. The industrial and trade sectors were the main drivers of today's decline.
Overall, 57 of the 90 stocks in the index fell, while 26 stocks rose, and three of the four monitored sectors closed lower. This reflects broad pressure in the Hong Kong market amid regional volatility.
Quarterly, the Hang Seng was still up 0.7%, but for the week, it fell 0.9%. In the past 52 weeks, the index has risen 4.4%, lower than the MSCI AC Asia Pacific Index, which recorded a 39% increase over the same period.
The index currently trades at a trailing price-to-earnings ratio of 13.1 and estimated earnings of 11.3 times for the coming year, with a dividend yield of 2.9%. The total market capitalization of Hang Seng members reached HK$29.9 trillion, while 30-day volatility increased slightly to 17.85% compared to the previous average of 17.76%. (asd)
Source: Newsmaker.id
