LiveChina Markets Live - Chinese and Hong Kong markets settle with small losses before holiday parade
The intense volatility of recent weeks has every chance of remaining the core underlying theme of activity. Investors are increasingly focused the broader question of how this episode might affect the wider economy.
Welcome to the SCMP's live markets blog. The intense volatility of recent weeks has every chance of remaining the core underlying theme of activity. Investors are increasingly focused the broader question of how this episode might affect the wider economy as many suspect the equity bubble has yet to fully deflate. We'll bring you the key levels, trading statements, price action and other developments as they happen.
Here’s a summary of market action today:
- Shanghai finishes nearly flat, off by 6.45 points
- Shenzhen drops almost 2 per cent
- Hong Kong weaker by 1.18 per cent by the close
- Overnight, Wall Street suffers from weak Chinese PMI data
- Chinese markets closed Thursday and Friday for holidays, reopens Monday
- Hong Kong market shut Thursday for holiday, reopens Friday
- Investors begin looking toward US jobs data due out on Friday, US markets shut Monday for Labor Day
4:08pm: Hong Kong's Hang Seng Index closed at 20,934.94, down 1.18 per cent, or 250.40 points. H-share index closed at 9,301.32, down 1.62 per cent, or 152.79 points.
4:02pm: Casino operators in Macau are among the worst losers today, after the local government decided to hold back its budget on the gaming industry. Big players like Sands China and Galaxy Entertainment lost 2.286 per cent and 4.175 per cent respectively in their share prices as at 3:55 pm.
Click and enlarge the chart to see the stock movements of six main casino operators in Macau – Galaxy Entertainment (light orange), Sands China(purple), MGM China (green), Wynn Macau (blue), SJM Holdings (dark orange), and Melco International Development (yellow).