Hang Seng Index Declines After Initial Gains, Technology and Financial Stocks Show Mixed Performance
The Hang Seng Index opened higher by 91 points at 22,072 but later reversed to a decline of 125 points, or 0.57%, settling at 21,855. The China Enterprises Index fell 57 points, or 0.71%, to 8,023, while the Technology Index dropped 24 points, or 0.49%, to 4,958. Main Board turnover reached HK$21.7 billion.
By 10.16am, the Hang Seng Index was trading at 21,901.05, reflecting a drop of 79.69 points, or 0.36%.
Technology stocks showed mixed results. Tencent edged down 0.1%, while Alibaba and Xiaomi both rose by 0.1%. Meituan fell 1.1%, JD.com gained 1.7%, and Kuaishou dropped 0.5%.
Financial stocks also recorded varied performance. HSBC Holdings rose 0.5%, while AIA Group fell 0.3%. Ping An Insurance dropped 1.9%, and Hong Kong Exchanges and Clearing declined 0.7%.
Shares of Bright Smart Securities surged after Ant Group took a controlling stake. The stock price initially soared by 60.6% before moderating to a gain of 28.8%.
Source : Dimsumdaily.hk
