China’s markets were waiting for the results of the referendum in Britain


The indices of two main stock markets in China — in Hong Kong and Shanghai to hold near the previous day’s close amid conflicting information on the outcome of the British referendum on leaving the EU. Markets movement correlated with coming from the UK information.

Thus, the opening of trading in China at 4:30 GMT coincided with the wave of news from the local election commissions in favor of leaving the EU. Therefore, in the first minutes of trading as the Hong Kong Hang Seng index and Shanghai SSE Composite was down 0.4% each. Later it became known that the supporters of the preservation of Britain in the European Union began to confidently play the position.

As a result, now (in 4:55 GMT), the Hong Kong exchange index adds 0.1% to the level of yesterday’s close, the Shanghai stock exchange index slightly down 0.06%.

Hong Kong is a former British colony and one of the main competitors to London for the title of world financial center. This may explain the cautious approach of Chinese investors to the news from the UK.