Hong Kong stocks continue to fall on Monday, Hang Seng Index closed at new low since March
STOCKS
Hong Kong stocks continue to fall on Monday, Hang Seng Index closed at new low since March
STOCKS

Hong Kong stocks continue to fall on Monday, Hang Seng Index closed at new low since March

 

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Hong Kong stocks continue to slip on Monday, with the benchmark Hang Seng Index down 1.04% to close at 18,565.97, a new low since March 16.

The Hang Seng China Enterprises Index slid 1.28% and the Hang Seng Tech Index dived 2.07%.

Technology heavyweights were mostly lower, with Alibaba Group and NetEase down more than 3%, JD.com and Xiaomi down more than 25, Meituan, Tencent and Baidu slightly lower.

Education companies tumbled, with New Oriental Education plunging 8.26%. Mainland property developers continue to see sell-offs. Semiconductor companies, defence stocks, mobile game companies, automakers and precious metal companies were mostly lower.

Tourism companies and retailers outperformed on expectations that Hong Kong may scrap hotel quarantine and pre-flight Covid PCR test requirements for incoming travelers. Gas distributors and some Hong Kong banks also closed higher.