In drama-packed day in Hong Kong stock market, big gainers in Wednesday’s ‘olive branch’ surge fall while derivatives trading is suspended over ‘connectivity’
- MTR, Cathay Pacific, Sa Sa International see losses after big gains on Wednesday
- US, China will talk trade next month and Beijing signals monetary easing, boosting mainland shares
Those big gainers in Wednesday’s surge on a hopeful moment about quieting unrest in Hong Kong broadly fell on Thursday, with Sa Sa International plunging 7.9 per cent.
The olive branch extended by city leader Carrie Lam – saying she would formally withdraw the radioactive bill that would have allowed extraditions to the mainland – fell far short of protesters’ demands. Violence broke out again at an MTR subway station, in which a station superviser was attacked by protesters and suffered injuries that led to his hospitalisation.
The Hang Seng spent much of the day above water, but then began a tumble mid-afternoon. It recovered some of its losses, closing down a teensy 0.03 per cent at 26,515.53.
MTR – the owner and operator of the city’s subway – closed down 1.4 per cent to HK$46.7. Cathay Pacific, which continues to be caught up in protest fallout as well, lost 3.6 per cent to end at HK$10.3.
Adding even more drama to the city’s stock market, Hong Kong Exchanges & Clearing Limited, the operator of Asia’s third-largest capital market, suspended trading in the city’s derivatives market at 2pm local time, after reporting “connectivity issues” on its trading system.
