HSI joins Asian market retreat as July 1 looms - RTHK
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HSI joins Asian market retreat as July 1 looms

2020-06-29 HKT 17:23
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  • Investors are keeping a nervous eye on the handover anniversary, fearful of fresh protests. Image: Shutterstock
    Investors are keeping a nervous eye on the handover anniversary, fearful of fresh protests. Image: Shutterstock
Hong Kong stocks ended 1 percent down on Monday, in line with a sell-off across Asia while local investors keep a nervous eye on this week's July 1 handover anniversary, fearful of fresh protests.

The Hang Seng Index shed 1 percent, to 24,301.

On the mainland, the Shanghai Composite Index slipped 0.6 percent, to 2,961 while the Shenzhen Composite Index dropped 0.4 percent, to 1,939.

Most other Asian markets tracked steep losses in New York on Friday.

Tokyo lost more than 2 percent and Seoul was 1.9 percent off, while Sydney, Mumbai, Taipei, Manila and Singapore lost more than 1 percent each.

There were also losses in Jakarta and Bangkok.

After weeks of lockdown easing across the planet, there are signs of a second wave of infections in key cities, jolting the investor confidence.

Oanda's Jeffrey Halley added that the trajectory of new infections in the US was still a "primary concern" for investors.

"As the consumer of last resort for the rest of the world for so long, an aggressive double-dip in the US economic recovery will surely see the rest of the world catch a cold," Halley said. (AFP)