Hong Kong stocks tumbled on Tuesday after rallying for several days and as Chinese A-share market reopened after the weeklong National Day holiday.
The Hang Seng Index tumbled 9.4% to close at 20,926, the Hang Seng China Enterprises Index sliding 10.2% to 7,483, and the Hang Seng Tech Index slumping 12.8% to 4,695.
The total trading turnover topped HK$6,200 to hit a new record high.
Technology heavyweights were mostly down, with Meituan sliding more than 15% and JD.com down nearly 12%. Mainland securities brokers also tumbled, with China Merchants Securities slumping 37%, Shenwan Hongyuan, CICC and China Galaxy Securities plunging more than 32%.
Semiconductor companies retreated sharply after previous rally, with SMIC sliding more than 18%. Mainland property developers were mostly down, with Agile Group slumping more than 41%, China Vanke and CIFI Holdings down more than 31%. Automakers, catering companies, airlines, casino operators, coal miners, oil companies and gold miners were mostly down.
