Hang Seng Index Drops 1.9%; Alibaba Leads Declines
The Hang Seng Index fell 1.9% to 23,108.27 in Hong Kong, the biggest drop since April 16 and following a 3% gain in the previous session.
Alibaba Group Holding Ltd. contributed the most to the index’s decline, dropping 3.9%. Sunny Optical Technology Group Co. was the biggest decliner, dropping 7.6%.
Today, 61 of 83 stocks fell, while 16 rose; all sectors fell, led by trading and industrial stocks.
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Source: Bloomberg