Recently big news has come from Hong Kong. let us tell you China shares fell on Monday as weaker-than-expected debt data triggered liquidity concerns and weighed on sentiment. Hong Kong’s Hang Seng Index has suffered losses in Monday’s trading. It is being told that the shares of Chinese developer China Evergrande Group have seen a decline.The Hang Seng index fell 2.18% in Monday morning trading, while shares of China Evergrande Group fell more than 10%. On the other hand, shares of city insurance companies also saw a fall, with AIA falling around 3.6%, while Ping An Insurance fell nearly 7%.
Evergrande is rushing to sell assets as it grapples with slow sales of apartments, which it relies heavily on customers who already buy, and hundreds of development projects it needs to maintain payments to its suppliers and creditors. On Wall Street, stocks are struggling in September, with the Dow Jones Industrial Average losing three consecutive weeks . Well Investors’ attention for weeks will be on the US Federal Reserve’s upcoming September meeting for clues to the central bank’s easing of easing monetary policy. While.
markets of China, Japan and South Korea remain closed on Monday due to holiday .So now let us tell you what is Hang SENG Index. The Hang Seng Index is a freefloat-adjusted market capitalization-weighted stock market index in Hong Kong. It is used to record and monitor the daily changes of the largest companies on the Hong Kong stock market and it is the main indicator of overall market performance in Hong Kong. Many markets in Asia were closed for the holidays and analysts said thin trading added to volatility. Shares in Paris and Frankfurt fell more than 2%, while Hong Kong’s HSI benchmark dropped 3.3%. Investors are watching to see if the Federal Reserve will take any action to offset the impact of rising prices on businesses and consumers. Heavyweight Hong Kong property companies and banks lost ground due to persistent concerns over the potential for a ripple effect from Chinese developer Evergrande’s financial problems.
Also read :- What is Dynamic System Development Method : roles in dynamic system development method