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Hong Kong markets volatile after plunging to start the week; other Asian markets rise



A person wearing a protective mask walks past signage for Hong Kong Exchanges & Clearing Ltd. (HKEX) displayed at the Exchange Square complex in Hong Kong, China, on Wednesday, Aug. 19, 2020.

Roy Liu | Bloomberg via Getty Images

Hong Kong stocks were volatile while mainland China markets continued to slide Tuesday, while other major Asian markets rose after Wall Street’s second straight positive session.

The Hang Seng index in Hong Kong lost as much as 1.54% and was last up 0.18%, while Hang Seng Tech was more than 1% higher.

The Hang Seng index and Chinese tech stocks in the U.S. dropped sharply to start the week with investor sentiment turning following the conclusion of the China’s party congress and the release of a slew of delayed economic data.


Mainland China’s Shanghai Composite lost 0.28% while the Shenzhen Component dropped around 1%.

The Nikkei 225 added 0.77% and the Topix climbed 0.8%. In Australia, the S&P/ASX 200 was up 0.3%.

South Korea’s Kospi opened lower before rising 0.34%, while the Kosdaq gained 0.35%. The MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.3%.

Singapore is due to release inflation data on Tuesday, while HSBC is reporting earnings.

Overnight in the U.S., the Dow Jones Industrial Average climbed 417.06 points, or 1.3%, to close at 31,499.62. The S&P 500 rose about 1.2% and closed at 3,797.34. The Nasdaq Composite added nearly 0.9% to end at 10,952.61.

Source: CNBC


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