Hong Kong’s market is set to trade for the first time on Wednesday at 5.1 trillion yuan ($7.8 trillion) in the market’s largest daily drop since July 1, when it was last trading below 5 trillion yuan.
Hong Kong’s markets will open at 5 p.m.
ET and close at 9 p.o.m., and it is expected to trade between 5.3 trillion yuan and 5.7 trillion yuan in the hour.
That’s the biggest daily drop in Hong Kong since June, when the market was at 5 trillion.
Hong Kong stock markets fell by more than 10 percent this week, wiping out more than $7 billion in value in a market that is home to more than 70 percent of the world’s stock market capitalization.
The market is expected rise to around 5 trillion by midday on Wednesday.
Bloomberg reports that Hong Kong stock market is trading at 5 million points, down 3 percent since Monday, while the dollar index has fallen to a five-week low of 112.09, from 111.88 on Monday.