Hang Seng Weakens for Fifth Straight Day, Alibaba the Main Pressure
The Hang Seng Index weakened again in the latest trading session on Tuesday (June 9) in Hong Kong. The index fell 0.4%, or 91.16 points, to 24,565.90. This marked the fifth consecutive day of decline and brought the Hang Seng to its lowest closing level since March 23.
The biggest pressure on the index came from Alibaba Group Holding Ltd. Alibaba shares fell 1.4%, the main contributor to the Hang Seng's decline. Meanwhile, Orient Overseas International Ltd. recorded the sharpest decline, falling 5.2%.
Overall, selling pressure remained quite widespread in the Hong Kong stock market. Of the 93 stocks included in the index, 62 fell, while 27 gained. Three of the four major sectors also closed in the red, with the greatest pressure coming from the financial sector.
In the short term, the Hang Seng's performance continues to show a weak trend. Throughout the quarter, the index has fallen 0.9%. In the last five days, the Hang Seng index has corrected 5.7%, while in the last 30 days the index has weakened 6.9%. This condition indicates that investors remain cautious about the Hong Kong market outlook.
Despite the pressure, the Hang Seng has still recorded a 1.6% increase in the last 52 weeks. However, this performance lags far behind the MSCI AC Asia Pacific Index, which has risen 36% over the same period. Currently, the Hang Seng is 12.4% below its high on January 29, 2026, and still 6% above its low on June 19, 2025. (asd)
Source: Newsmaker.id
