Nasdaq Falls 5.52%, Hang Seng Rises 3.67%: November 5 Closing Moves Diverge

Both U.S. Indexes Fall, with a Larger Decline in the Nasdaq

On November 5, the latest completed trading day, the S&P 500 fell 4.36% from its November 4 close, while the Nasdaq Composite fell 5.52%. Both indexes use the same closing-price comparison window, confirming that the Nasdaq declined more over this window; this edition's data is insufficient to determine the contributions of specific sectors or constituent stocks.

Sources: [1] [2]

Hang Seng and Shanghai Composite Rise by Different Amounts

On November 5, the Hang Seng Index rose 3.67% from its November 4 close, while the Shanghai Composite rose 0.10%. Both indexes closed higher, with the Hang Seng posting the larger gain. This observation covers only the listed indexes and cannot be extended to the performance of Hong Kong's technology sector or the A-share market as a whole.

Sources: [4] [3]

The Same Trading Date, but Different Measurement Windows

All stock index comparisons in this edition use the November 4 and November 5 closes, but their measurement windows end at different times: November 5 at 15:00 for the Shanghai Composite, November 5 at 16:00 for the Hang Seng Index, and November 6 at 05:00 for both U.S. indexes, all in Singapore time. Asian markets closed before U.S. markets. Their opposite directions show only that performance differed within their respective windows; they do not establish synchronized reactions or cross-market fund flows.

Sources: [3] [4] [1] [2]

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What to watch next

• Whether the Nasdaq Composite's decline remains larger than the S&P 500's on the next completed trading day.
• Whether the Hang Seng Index and Shanghai Composite continue to move in the same direction on the next completed trading day, and whether their divergence in direction from U.S. stocks persists.
• Whether valid closing records for the CSI 300 and Hang Seng TECH Index, once available, support the differences currently observed between indexes.
• Once Bitcoin and Ethereum data is updated, first check the comparison windows, then assess whether their performance can be considered alongside stock market performance.