Hang Seng Index Down After 4 Days of Gains, Meituan the Biggest Downer
Hong Kong's Hang Seng Index fell 0.3% to 24,517.76 in today's trading, ending its four-day winning streak. This decline came after the index posted a 1.6% gain in the previous session. Meituan shares were the biggest loser, falling 1.7%, followed by Shenzhou International, which plunged 2.8%. Of the 85 member stocks, 54 declined and only 28 rose. All sectors experienced corrections, especially financial stocks.
Despite today's decline, the Hang Seng Index still performed positively in the medium term, rising 2.6% in the last five days and 1.9% in the last 30 days. In the last 52 weeks, the index has gained 38%, just 1.4% below its yearly high. The index trades at a P/E ratio of 11.8 times, with a dividend yield of 3.2%, and a total market capitalization of HK$28.5 trillion. Price volatility remains stable at around 16.12%, indicating relatively controlled market movements.
Source: (ayu-newsmaker)
