Hang Seng Index Dips as Tech Stocks Decline
The Hang Seng Index started the day with a 12-point rise, reaching 24,234 points before fluctuating and ultimately falling by 126 points or 0.52%, settling at 24,094 points. Concurrently, the H-share Index dropped by 60 points or 0.69% to 8,663 points, while the Technology Index decreased by 29 points or 0.56%, closing at 5,239 points. The main board saw a turnover of HKD 39.8 billion.
Tech stocks showed softness with Tencent declining by 0.5%, Alibaba by 2.3%, Meituan by 2.1%, Xiaomi Corporation by 1.5%, and Kuaishou by 1.2%.
In individual developments within financial stocks, HSBC Holdings fell by 0.1%, AIA Group rose by 0.2%, Ping An of China remained unchanged, and Hong Kong Exchanges and Clearing dropped by 0.9%.
Contrary to the market trend, Global Data Solutions Limited saw a 6% increase as the group announced plans to spin off a Real Estate Investment Trust (REIT) for a listing in Shanghai.
Source : dimsumdaily.hk
