Hong Kong Midday: Hang Seng Sheds 1.29%, Breaches 25,000; Tech Slumps, China Financials Shine
Market Pulse·
- Hong Kong stocks closed lower at midday on September 10, with the Hang Seng Index falling 1.29 % to 24949 points and the Hang Seng Tech Index dropping 2.07 % to 4329 points.
- Tech stocks generally declined, driven by external pressures such as geopolitical tensions affecting US stocks and heightened market competition, while Chinese financial, telecom, and oil stocks moved against the market to post gains.
- Haidilao shares fell over 3 % following a major block trade reduction of 2.59 billion shares by its controlling shareholder for personal financial arrangements.