Trading Moment: South Korean Stocks Fall into Technical Bear Market, Hong Kong Tech Leads Strongly, BTC Pulls Back Slightly
Market Roundup: Tech Leads in Hong Kong, South Korea Enters Technical Bear Market, BTC Dips
Global markets displayed divergent trends. Hong Kong's Hang Seng Tech Index surged over 5%, led by major tech stocks like Alibaba (+12%) and Xiaomi (+10%), as southbound capital inflows exceeded HK$11 billion. In contrast, South Korea's KOSPI tumbled 5.35%, entering a technical bear market (down >20% from June peak), heavily dragged by chip giants Samsung and SK Hynix. Japan's Nikkei 225 fell 2.11% for a third day, pressured by tech and rising bond yields.
Bitcoin saw a slight pullback after its recent rebound, testing key support near $63,000. Analysts note the rally appears corrective, driven by macro factors rather than a structural shift. Sustained ETF inflows are seen as crucial for a trend reversal. Key near-term levels are support at $63,000 and resistance at $64,600-$65,000. U.S. spot Bitcoin ETFs recorded a third consecutive day of net inflows (+$21.44M).
In mainland China, A-share indices closed lower, though semiconductor and computing power sectors saw gains. Market focus now turns to upcoming U.S. Fed minutes, Chinese macroeconomic data, and global liquidity conditions, which will be pivotal for near-term direction across these asset classes.
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