Regional markets showed mixed performance last week. Hong Kong's Hang Seng Index fell 1.5% due to China's economic data and property concerns, while Singapore's Straits Times Index gained 0.8%, boosted by banking and tech stocks.
Last week, major regional markets in Southeast Asia and Asia showed divergent performances. Hong Kong's Hang Seng Index (HSI) was under pressure, falling 1.5% for the week to close at 16,350 points. This was primarily due to weaker-than-expected economic data from China and ongoing concerns about its property market. Technology giants like Alibaba and Tencent saw their share prices decline, further dragging down the index. Meanwhile, Singapore's Straits Times Index (STI) performed robustly, gaining 0.8% to 3,250 points, benefiting from its strong banking sector and positive performance from some technology stocks. United Overseas Bank (UOB) and DBS Bank both recorded gains. Market analysts noted that investors hold differing views on the fundamentals and policy outlooks of various regional economies, leading to varied capital flows.
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