{"id":49674,"date":"2026-06-08T11:34:56","date_gmt":"2026-06-08T11:34:56","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2026\/06\/08\/heres-why-the-hang-seng-index-is-falling-by-1-20-today-june-8\/"},"modified":"2026-06-08T11:34:56","modified_gmt":"2026-06-08T11:34:56","slug":"heres-why-the-hang-seng-index-is-falling-by-1-20-today-june-8","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2026\/06\/08\/heres-why-the-hang-seng-index-is-falling-by-1-20-today-june-8\/","title":{"rendered":"Here\u2019s why the Hang Seng Index is falling by 1.20% today (June 8)"},"content":{"rendered":"
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The Hang Seng Index retreated by over 1.18% on Monday, continuing a sell-off that started on May 14, when it peaked at H$26,856. It retreated to a low of H$24,466, its lowest level since March 30th this year.<\/p>\n

Hong Kong stocks retreat as global rout in tech shares continue<\/h2>\n

The blue-chip Hang Seng Index retreated sharply, mirroring the performance of other global indices. In South Korea, the blue-chip KOSPI Composite Index<\/a> retreated by over 8%, its worst-day performance in years. <\/p>\n

Similarly, in Japan, the Nikkei 225 Index<\/a> retreated by over 3%, with Softbank and Kioxia being the top laggards. They have been the best-performing companies in Japan this year, helped by their important role in the technology industry.\u00a0<\/p>\n

Technology companies were among the top laggards in the Hang Seng today, continuing a sell-off that started after the Broadcom earnings last week. Baidu, China\u2019s equivalent to Google, plunged by 7% and is down by nearly 30% from its highest point this year. It has formed the risky head-and-shoulders pattern, pointing to further weakness.<\/p>\n

BYD Electronic, the biggest electric vehicle manufacturer, dropped by 5%, while Meituan, Semiconductor Manufacturing Company, Kuaishou Techology dropped by nearly 4% on Monday. <\/p>\n

Chinese technology companies have lagged behind their global counterparts this year, with the Hang Seng Tech Index falling by 30% from its highest point last year, while the Nasdaq 100 indices have jumped to a record high.<\/p>\n

Chinese stocks are facing major risks<\/h2>\n

The ongoing Hang Seng Index retreat is happening as investors rotate from technology companies and as risks rise. For example, there is a risk that technology stocks have become highly overvalued amid the AI surge.<\/p>\n

At the same time, the US-Iran quagmire continues. While President Donald Trump has hinted that a deal was close, the reality is that the two sides have not exchanged notes in the past few days. This explains why crude oil prices<\/a> are doing relatively well, with Brent nearing the crucial milestone of $100.<\/p>\n

The market is also coming to terms with the fact that the Federal Reserve will likely deliver at least two interest rate hikes this year. A report released last week showed that the US added over 172k jobs last month. A separate report this week will likely show that the headline consumer inflation rose to 4.2% in May this year.<\/p>\n

Hang Seng Index technical analysis<\/h2>\n
<\/figure>\n

Hang Seng Index chart | Source: TradingView<\/em><\/p>\n

The daily chart shows that the HSI Index has retreated in the past few days and is now at a crucial support level of $24,465. It has dropped to the lowest point since March 30th this year.<\/p>\n

The chart has moved below the 50-day Exponential Moving Average (EMA). It also formed what looks like a head-and-shoulders pattern, a common bearish reversal pattern in technical analysis.<\/p>\n

Therefore, the path of the least resistance is bearish, with the next key target to watch being at $24,000. This view will be confirmed if the index retreats below the key key support at $24,400. <\/p>\n

The post Here\u2019s why the Hang Seng Index is falling by 1.20% today (June 8)<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Hang Seng Index retreated by over 1.18% on Monday, continuing a sell-off that started on May 14, when it peaked at H$26,856. It retreated to a low of H$24,466, its lowest level since March 30th this year. Hong Kong stocks retreat as global rout in tech shares continue The blue-chip Hang Seng Index retreated <\/p>\n","protected":false},"author":1,"featured_media":49675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49674","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world"],"_links":{"self":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/49674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/comments?post=49674"}],"version-history":[{"count":0,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/49674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media\/49675"}],"wp:attachment":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media?parent=49674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/categories?post=49674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/tags?post=49674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}