Hang Seng Index Drops 1.35% as Southbound Funds Pour in with Record Net Purchases of HKD 37.213 Billion
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Author:小编   

On March 9, the Hang Seng Index ended the trading day with a 1.35% decline, and the Hang Seng Tech Index also saw a slight dip, closing down 0.12%. Focusing on individual stocks, GigaDevice's shares plummeted by over 6%, Hang Lung Properties experienced a more than 4% drop, Tencent Music's shares fell by over 2%, and both Kuaishou and SMIC witnessed declines exceeding 1%. From a sectoral perspective, semiconductors, real estate, and media stocks were the primary drivers of the market's downturn. Conversely, coal, software services, and petroleum and petrochemicals sectors exhibited strength, bucking the overall downward trend. Notably, southbound funds, which are investments flowing from mainland China to Hong Kong, made net purchases exceeding HKD 37 billion, marking a new record for single-day net inflows.