HSI Tumbles Amid Jitters Ahead Of US Election

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2020-10-30 HKT 16:49

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  • Local shares finish the day nearly 2 percent lower. Image: Shutterstock

    Local shares finish the day nearly 2 percent lower. Image: Shutterstock

Hong Kong and regional shares fell sharply on Friday at the end of a volatile week, as investors brushed aside a rebound on Wall Street overnight to keep a watchful eye on next week’s US presidential election.

The Hang Seng Index lost as many as 557 points before paring some of the losses. It finished the day 479 points or almost 2 percent lower at 24,107.

Turnover was HK$151.7 billion.

The local benchmark shed 3 percent this week but gained almost 2.8 percent for the entire month.

Across the border, the Shanghai Composite Index swung between gains and losses before finishing the day down 1.5 percent, while the blue-chip CSI-300 index slipped 1.6 percent. The Shenzhen Composite Index tumbled 2.3 percent.

Most regional shares also closed lower. Japan’s Nikkei gave up 1.5 percent. The Kospi in South Korea sank 2.6 percent. Taiwan skidded 0.9 percent. Sydney and Singapore also headed south.