HSI Ends On Negative Note, Weighed By Pandemic

Hong Kong shares fell while regional markets were mixed on Monday amid investor jitters over a new strain of coronavirus that has prompted some countries to ban flights from the UK, even though US lawmakers are set to vote on a massive fiscal stimulus package that they've finally agreed.

Locally, the Hang Sang Index opened lower and saw its losses widen.

It finished down 191 points or 0.7 percent, at 26,306, on turnover of HK$143.9 billion.

HSBC was the biggest loser on the index, sliding 4 percent to below $39.5, as confidence in the bank was affected by Covid pressure on the pound.

Heavyweight Tencent declined 1.4 percent.

But bucking the trend, Hong Kong Exchanges and Clearing shot up more than 2.2 percent to a new high of HK$403.

Xiaomi also scaled a new high before closing up 1.7 percent.

Markets across the border finished unscathed by the fresh Covid worries. The Shanghai Composite Index was up just over 0.75 percent, while the blue-chip CSI300 index gained 0.9 percent. The Shenzhen Composite jumped 1.9 percent.

Elsewhere, the Nikkei in Japan retreated 0.2 percent. Australia and Singapore each gave up about 0.1 percent.

But Seoul’s Kospi edged up 0.2 percent. Taiwan added just under 1 percent.