28 July 21 - HK Market Keeps Sliding | Tower Update Global markets were lower overnight, (S&P 500 index -0.5%) with US markets falling, ending their 5-day rally. Investors went defensive as China‘s expanding anti-corporate regulations spooked markets as well as some companies that missed earnings expectations selling off sharply and as investors wait for the Federal Reserve on its monetary policy update. UPS fell -7.6% despite being earnings expectation was down on declining US delivery volumes, while Tesla fell -4.1% following their earnings beat. Trading at all-time highs Alphabet, Microsoft and Apple were all down during the session ahead of their result which was released after hours.  The Hong Kong Market (Hang Seng Index -4.2% - chart below) slid lower as investors feared further crack down on Technology and educations sector from Chinese authorities. The underlying NASDAQ Golden Dragon Index (companies listed on the N...