Shik Hiu-fai: Loss of premium edge adds pressure on Budweiser APAC

Hong Kong stocks continued to fall after the long holiday, with the Hang Seng Index and the Hang Seng Tech Index down 1.4% and 2.9% respectively, the latter hitting a new low for the year. As A-shares resumed trading, the Shanghai Composite Index fell 0.8% and the Shenzhen Component Index fell over 2%, while Taiwan stocks hit a new high for the year led by TSMC, accumulating a rise of over 70% year-to-date. Shik Hiu-fai said that if oil prices rise further and other adverse news emerges, the Hang Seng Index may test 23,500 points or even 23,000 points.