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Hong Kong stocks closed lower on Thursday, with the benchmark Hang Seng Index sliding 1.6% to end at 18,147.95, after breaking through 18,000 mark for the first time in more than 11 years.
The Hang Seng China Enterprises Index gell 1.14% to 6,195.9 and the Hang Seng Tech Index fell 1.7% to 3,673.
Technology heavyweights were mostly lower, with JD.com, Alibaba and NetEase sliding more than 2%, Tencent, Baidu, Meituan and Xiaomi also slightly lower. Chinese airlines tumbled amid sharp weakening of the Chinese yuan. Automakers saw a sell-off, with Xpeng Motors slumping 11.6% to close at HK$53.9. Catering companies, Macau casino operators, biotech companies, home appliance makers, cement makers, building material suppliers and insurance companies were mostly lower.
Online education outperformed, with New Oriental Education gaining 5.7%. Coal miners staged a strong rally, while defence stocks were mostly higher.
Chinese A-share closed slightly lower, with the benchmark Shanghai Composite Index down 0.27% to close at 3,108,9, after breaking through 3,100 mark at one point. The Shenzhen Component Index fell 0.84% to 11,114.4 and the tech-heavy Chinext Price Index fell 0.5% to 2,319.4.
Airlines, drugmakers, home appliance makers, new energy vehicle makers and property developers led the losses, while resources companies such as oil companies and coal miners and defence stocks outperformed.
Overseas investors sold a net 3.649 billion yuan of Chinese A-share via the Mainland – Hong Kong Stock Connect Scheme on Thursday, marking the third consecutive ay of net selling.