Hong Kong Trade Week Opens by 3% Drop in Hang Seng Index
Negative dynamics is observed across the entire spectrum of securities. The largest losses are suffered by holders of assets related to insurance, the commodity sector, transport and high-tech exports.
Shares of Air China airline dropped by 5.6% to 5.26 Hong Kong dollars per unit. The insurance giant China Life lost more than 6%: the value of one of its securities fell to 1.02 Hong Kong dollar. The position of the Sinopec petrochemical corporation has deteriorated by 6.63% - now they give 3.66 Hong Kong dollars for its shares.
Securities of casino operators in Macau are getting cheaper by 5-6% after receiving data on a reduction in April of gambling industry revenues in Asian Las Vegas by a record 97%. The stock markets of mainland China on Monday and Tuesday will remain closed due to the holidays.