Local shares finished up nearly 500 points, in line with a broader regional rally after the US Federal Reserve eased concerns over rising inflation le.
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HSI ends sharply lower as tech dumping returns
2021-05-13 HKT 17:18 Share this story
Asian shares were awash in a sea of red on Thursday, hurt by inflation concerns. Image: Shutterstock Local and regional shares plummeted on Thursday, taking their cue from Wall Street where forecast-beating US inflation data stoked jitters that the Federal Reserve will hike interest rates sooner than expected.
The Hang Seng Index started more than 300 points lower and widened its losses towards the end of the day. It closed at its lowest point, at 27,718, down 512 points, or 1.8 percent.
Market turnover was HK$163.6 billion.
Tech stocks were heavily sold. The Hang Seng Tech Index dived 3.3 percent.
HK market loses early gains as Meituan plunges
2021-05-10 HKT 16:49
The Hang Seng Index finished Monday in the red. Image: Shutterstock Local shares failed to hold on to their morning gains and finished with small losses on Monday, while the rest of the region was mixed after a below-forecast US jobs report raised hopes that near-zero interest rates will remain for the time being.
The Hang Seng Index started the day up 166 points and rose as many as 231 points. It then reversed course to lose as many as 157 points.
But it pared back most of those losses to end down almost 15 points at 28,595.
HSI boosted by Fed, White House
2021-04-29 HKT 17:13
Hong Kong shares rose for the second day in a row. Image: Shutterstock Shares in Hong Kong posted healthy gains for a second day on Thursday, as the broader region mostly advanced after US President Joe Biden outlined his huge spending plan to Congress, and the Federal Reserve gave an upbeat outlook for the US economy while repeating its pledge to keep its accommodative monetary policy.
The Hang Seng Index put on as many as 333 points during the day, before finishing 231 points, or 0.8 percent higher, at 29,303.
Market turnover was at HK$119.7 billion.