Hong Kong stocks opened in the red on Thursday after Wall Street indices lost steam following a two-day rally. The benchmark Hang Seng lost 0.52% in opening trade.
Hong Kong markets opened on a strong note on Wednesday morning, taking cues from an upbeat Wall Street session where major indices closed about 3% higher.
Pre-open movers
U.S. stock futures traded mixed in early pre-market trade on Friday after recording losses for the week, month and quarter. The Dow Jones settled below the 29,000 level for the first time since November 2020, while the S&P 500 index also recorded its worst month since March 2020.
Hong Kong shares opened in the red on Monday morning, taking cues from Friday’s Wall Street decline where major indices fell 1.5%. The benchmark Hang Seng fell 1% in opening trade.
Electric vehicle stocks moved to the downside once again in the week that ended Sept. 30 as economic worries continue to roil the broader market. Lordstown Motors Corp. (NASDAQ: RIDE) and Workhorse Group, Inc.