Find more articles and bullets on these widgets:
Weakness in Hong Kong equities extending, with the benchmark Hang Seng index dealing the best part of 5% lower, while the Hang Seng Tech index is ~10% worse off. COVID worry in HK & China remains at the fore (as outlined in previous bullets).
A pretty heavy day when it comes to outflows from Chinese mainland equities via the Hong Kong-China Stock Connect schemes, with a cumulative net CNY14.41bn shed over those channels. This ranks as the fifth largest round of net daily outflows observed under the current Connect setup (in play since late ’16), according to our calculations, with net sales of this level not seen since the runup to the LNY holiday. COVID worry, centring on a lockdown in tech hub Shenzhen and restrictions in Shanghai headlined, weighing on the space.