Hong Kong’s Equity Preview

Hong Kong’s Equity PreviewTyphoon Nesat closed entire working of financial markets in Hong Kong on September 29. However, chances seem higher that the companies, including Angang Steel, HSBC and Lenovo Group could face or forced to make some big changes in their prices when trading in the region resumes.

Regarding closure of the market and the future ahead, Mr. Khiem Do, Hong Kong-based multi-asset strategy head at Baring Asset Management overseeing approximately $10 billion, said in his statement that: “What would happen in the Hong Kong market tomorrow depends on tonight’s news flow from Europe. Everyone is watching Europe, if good news comes out from the region in terms of policy changes, the market will go up”.

According to reports, upon last seen figures of September 28, the Hang Seng Index was down by 0.7% to 18,011.06 whereas the Hang Seng China Enterprises Index that tracks H shares of Chinese companies fell by 0.2% with figures 9,277.49.

Talking about few other figures of September 29, the MSCI Asia Pacific Index didn’t give any actual gain or loss as expectations are being made that lawmakers in Germany will soon get suitable measure for expansion of a bailout fund to help all the Europe’s debt-stricken nations.