Free Trial

Hang Seng Struggles On Alibaba Guidance

EQUITIES

Equity trade was mixed during Asia-Pac hours.

  • Chinese tech names struggled in the wake of a downward revision in Alibaba's '22 outlook. This resulted in underperformance for the Hang Seng, which shed the best part of 2% vs. Thursday's closing levels.
  • Elsewhere, the likes of the Nikkei 225, CSI 300 and ASX 200 posted modest gains, aided by an uptick in U.S. e-mini futures, as the S&P 500 and NASDAQ 100 contracts registered yet another round of fresh all-time highs. There wasn't a clear catalyst for the uptick in U.S. e-minis during the[EH1] Asia-Pac session, with some desks pointing to spill over support from news that tech heavyweight Apple is pushing for the release of a fully autonomous car by 2025.

[EH1]

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.