Why Alibaba, Nio And Other Stocks' Trading Has Been Suspended In Hong Kong Today

Trading of stocks and derivatives on the Hong Kong bourse was suspended on Thursday morning due to the issuance of Typhoon Signal No. 8.

What Happened: The Hong Kong Exchanges and Clearing Limited (HKEX) said if Typhoon Signal No. 8 or above, or any announcement of “extreme conditions”, remains at 9:00 am, the morning trading sessions for all markets will be canceled.

If such an announcement is canceled at or before noon, products of HKEX’s securities and derivatives markets will resume trading in the afternoon. 

Trading will begin in the first half hour approximately two hours after the discontinuation of Typhoon Signal No. 8 or any extreme conditions announcement, HKEX said.

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Wednesday Recap: Shares of Tesla Inc TSLA-rival XPeng Inc XPEV closed over 12% down in Wednesday Hong Kong trading session after it posted weak earnings per share. Alibaba Group Holdings Ltd. BABA shares lost 2.43% while Nio Inc NIO shares lost 5%. Li Auto Inc LI stock closed 5.35% lower. JD.com Inc JD shares closed 0.18% higher.

Global Macro and Markets: The Bank of Korea on Thursday raised its interest rate by 25 basis points to 2.5%, in line with expectations. 

Hong Kong is expected to report July’s trade data, while Japan’s latest Producer Price Index for July is due later in the day.

U.S. futures were trading higher on Thursday morning Asia session. 

The Dow Jones futures were up 0.11%, while the Nasdaq futures gained 0.27%. The S&P 500 futures were up 0.25%.

Elsewhere in Asia, Australia’s ASX 200 gained 0.67%. Japan’s Nikkei 225 was up 0.45%, while China’s Shanghai Composite index was up 0.28%. South Korea’s Kospi gained 0.71%.



Image and article originally from www.benzinga.com. Read the original article here.