Hong Kong Stocks Become An Oasis Of Green In A Sea Of Red, Week In Review

For the week, most markets were off -1% to -2% though South Korea was off an especially deep -3.54%, India was lower by -3.85%, Malaysia was off by -2.88%, and Taiwan was down -3.16%.

Remember that Hong Kong’s uptrend and India’s downtrend may be causing active manager pain due to their being underweight China internet and overweight India. If this early trend can stick, it could “force” big funds back into the space. Another catalyst is the simple reality that the US dollar may strengthen on Fed rate hikes, posing a significant headwind for EM currencies.

The Hang Seng was up +2.36% for the week while Shanghai was up +0.26% thanks to its value skew and Shenzhen was down -1.74% thanks to its growth skew. Overnight, the Hang Seng gained +0.05% on volume that was down -13.57% from yesterday, which is 95% of the 1-year average. That’s not a bad volume day for Hong Kong as the Hang Seng is right at the 25,000 level. Hong Kong-listed internet stocks were mixed overnight as the highest volume stocks by value traded were Tencent, which gained +0.

Tencent’s WeChat and Bytedance’s TikTok are being included in the US technology anti-trust bill though the bill might have trouble passing. TikTok has already moved its US customer servers to American soil while Tencent has very few US users .

Follow DoraineGenius for the latest updates in the METAVERSE and all of the CRYPTO SPACE. Ethereum bitcoin btc eth SHIB doge cryptonews NFTnews NFT NFTCommunity NFTartists nftcollector NFTGiveaway nftgallery NFTs cryptoart Crypto Metaverse newnftproject

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. stocks end lower Friday, Nasdaq books worst week since March 2020U.S. stock indexes closed lower Friday, capping another punishing week for growth and technology stocks as investors await a Federal Reserve update next week... Biden proud
Source: MarketWatch - 🏆 3. / 97 Read more »

First Country: New Music From Aaron Watson, Brothers Osborne and MoreThis week's FirstCountry includes new releases from Aaron Watson, Brothers Osborne and more
Source: billboard - 🏆 112. / 63 Read more »

Red Giant Stars: Facts, Definition & the Future of the SunOur sun will become a red giant in about five billion years. A couple of billions years. Earth will be doomed by then. It will continue to warm and cool from its core...at the same time. Look up ...to the stars...to find out ...solutions. After 5 billion years? One day with last day of biotic components 🎃
Source: SPACEdotcom - 🏆 92. / 67 Read more »

Omnific Takes Control of Hong Kong VFX Firm Marvel Digital to Accelerate NFT Output (EXCLUSIVE)Digital entertainment studio Omnific Blockchain Studios is to take operational control of Marvel Digital Productions, a Hong Kong-based effects and post-production company. The move is intended to …
Source: Variety - 🏆 108. / 63 Read more »

How omicron pushed Hong Kong to ramp up its ‘zero-Covid’ strategyAs the coronavirus pandemic enters its third year, traveling to Hong Kong is more complicated than ever, if you can get here at all.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »

Google Play Games for Windows PCs rolls out in limited beta | Digital TrendsToday, Google is opening sign-ups to begin testing Google Play Games for PC as a beta in three countries: Korea, Taiwan, and Hong Kong.
Source: DigitalTrends - 🏆 95. / 65 Read more »