Technology stocks dropped when the US “locked” 59 Chinese enterprises on the black list
Shares of Asian technology giants simultaneously slid on the trading day of June 4 after the US blacklisted 59 Chinese enterprises.
|Hong Kong’s Hang Seng Index fell 0.17% on the trading day of June 4. Photo: AFP|
Hong Kong’s Hang Seng index closed down 0.17% at 28,918.10 points. Meanwhile, mainland China stocks recorded gains in both major indexes. The Shanghai Composite index edged up 0.21% to 3,591.84 points while the Shenzhen Component added 0.744% to 14,870.91 points.
In the Japanese market, the Nikkei 225 index slid 0.4% to 28,941.52 points while the Topix index inched up slightly to 1,959.19 points.
South Korea’s Kospi index slid 0.23% to 3,240.08 points. Meanwhile, Australian stocks ended the trading day in the green as the S&P/ASX 200 index rose 0.49% to 7,295.40 points.
Indian stocks today “stained red” after the Central Bank of the country announced the decision to keep interest rates unchanged. The two main indexes of Indian stocks, the Nifty 50 and the Sensex BSE, fell 0.41% and 0.51%, respectively.
Collectively, the MSCI Asia-Pacific index (excluding Japan) slipped 0.25%.
Shares of major technology companies in Asia all fell on June 4. Hong Kong-listed Alibaba shares closed down 0.28% despite Ant Group – an affiliate of Alibaba – just approved to operate a consumer finance company. This marks a positive development in the forced restructuring for Ant Group over the past several months.
Other Chinese technology companies listed in Hong Kong also “red floor” on the trading day of June 4. In particular, Baidu shares lost 3.1%, while Tencent and Meituan shares fell 0.65% and 1.69%, respectively. Hong Kong’s Hang Seng Technology Index also slipped 0.84% to 8,095.64 points.
In Japan, shares of Softbank Group fell as much as 1.29%, while the world’s second largest chip maker in Korea – SK Hynix – recorded a 0.39% slide in shares.
Asian technology shares were all “red on the floor” after US President Joe Biden on June 3 announced the addition of regulations restricting US investment in some Chinese enterprises operating in the field of surveillance. and the army. Huawei is one of 59 Chinese enterprises blacklisted by the US this time.
In the currency market, the greenback rallied as the US dollar index against other major currencies rose to 90.551, from 90.3 previously set. The Japanese yen weakened against the previous session and converted to 110.17 JPY/USD, while the Australian dollar also slipped and changed hands at 1 AUD / 0.7663 USD, compared to the usual 1 AUD / 0.772 USD in the previous session. week.
Oil prices traded by Asian time on the afternoon of June 4 increased. Brent oil futures inched up 0.45% to $71.63 per barrel, while US crude futures traded at $69.16 per barrel, up 0.51%.