Hong Kong blue-chip stocks plunged 10% – Economic Daily Mingpao

The exchange rate of the RMB was the weakest in four months, dragging down the mainland and Hong Kong stock markets. The Hang Seng Index fell 522 points yesterday afternoon, a drop of about 3%. In the afternoon, it was reported that mainland banks were selling US dollars to support the exchange rate. The RMB had stabilized, and the Hang Seng Index's decline in late trading narrowed to …

RMB exchange rate affects the stock market

The lower RMB exchange rate has had a certain impact on the mainland and Hong Kong stock markets. The Hang Seng Index fell sharply at noon yesterday, reaching about 3%. This situation has aroused market concern and concern, and investors have expressed concerns about future trends.

Mainland banks support exchange rates

With the Hang Seng Index falling, it was reported in the afternoon that mainland banks began selling U.S. dollars to support the RMB exchange rate. This move caused the RMB exchange rate to stabilize to a certain extent. Investors expressed a certain degree of optimism about this move by mainland banks, hoping to stabilize market sentiment.

Hang Seng Index late market trend

Although the Hang Seng Index fell sharply at noon, the decline in the Hang Seng Index narrowed at the end of the market due to support from mainland banks. Investors still take a wait-and-see attitude towards the trend of the Hang Seng Index, hoping that the market can restore stability as soon as possible.

future outlook

There is still some uncertainty in the market regarding the trend of the RMB exchange rate and the performance of the stock market. Investors need to pay close attention to market dynamics and adjust investment strategies in a timely manner to deal with possible risks.