Hang Seng Down 0.5%, Kuaishou Shares Plunge 12%
The Hang Seng Index weakened 0.5% to 23,496.89 in Hong Kong trading on Tuesday (July 7). This decline followed a 1.1% gain in the previous session, suggesting the market was undergoing a correction following its previous gains.
Market analysts believe the greatest pressure came from Kuaishou Technology shares. This stock was the main contributor to the index's decline and recorded the largest decline, with a decline of 12.0%.
Overall, the majority of stocks in the index weakened. Seventy-two of the 93 stocks were in the red, while only 19 managed to gain. All sectors declined, led by the trade and industrials sectors.
Despite the correction, the Hang Seng still recorded a 2% gain in the last five days, but a 5.9% decline in the last 30 days. In the past 52 weeks, the index has weakened 1.6% and remains 16.3% below its high on January 29, 2026. The total market capitalization of Hang Seng members is recorded at HK$28.1 trillion, with a dividend yield of 3.2% in the past 12 months. (asd)
Source: Newsmaker.id
