Hong Kong Stock Market Shows Slight Recovery on Quiet Trading Day

The stock exchange in Hong Kong showed some recovery on Tuesday after the heavy loss a day earlier.


The hopes for a strong recovery from the corona crisis, with many significant economies reopening after the lockdowns, sparked some optimism. Investors took it easy because of the long holiday period in Japan and China.

The essential financial markets in Tokyo and Shanghai will not open again until Thursday. Investors also had a day off in Thailand.

The Hang Seng index in Hong Kong was 0.5 percent in the plus in the meantime, after the loss of more than 1 percent at the beginning of the week. The Kospi in Seoul climbed 0.4 percent. The All Ordinaries in Sydney rose 0.5 percent following the Australian central bank’s decision to leave interest rates unchanged.

The Reserve Bank of Australia reiterated that it would not change interest rates as long as inflation does not remain between 2 and 3 percent for a prolonged period. Central bankers do not expect the inflation target to be reached until 2024.

The main index in Taipei, the Taiex, fell further, losing 1.7 percent due to a sudden surge in the number of corona infections in Taiwan. The Taiex fell 2 percent the day before. The stock market in India improved slightly despite the country having passed the 20 million corona infections mark. The number of corona cases in India increased by more than 300,000 for the thirteenth day in a row.

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