HSI continues fall, most other Asian markets rise - RTHK
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HSI continues fall, most other Asian markets rise

2020-06-26 HKT 10:19
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  • Reports of a new wave of virus infections in some countries spooked HK investors. File image: Shutterstock
    Reports of a new wave of virus infections in some countries spooked HK investors. File image: Shutterstock
Hong Kong stocks were in negative territory going into the break on Friday following a one-day holiday, with investors keeping an eye on rising virus infections around the world.

The Hang Seng Index slipped 0.6 percent, to 24,640.

Markets on the mainland and Taiwan were closed for a public holiday.

Most other Asian markets advanced with Tokyo adding 1 percent by lunch, while Sydney was up 1.1 percent and Seoul gained 0.7 percent.

Singapore rose 0.8 percent, Jakarta edged up 0.5 percent and Manila was 0.3 percent higher with Wellington 0.2 percent up.

While investors continue to see the positives, backed up by trillions of dollars in government support, analysts suggested the three-month rally in world equities could be stuttering.

"It seems like we've reached a point where as much good news as can be extrapolated has been milked, and investors are finding it hard to see the marginal or incremental new support," said AxiCorp's Stephen Innes.

"I'm not suggesting that the stealthy market rally won't resume, it's just that investors may need more prominent catalysts. Ideally a vaccine." (AFP)

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Last updated: 2020-06-26 HKT 12:15