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15 Apr Hong Kong stocks slump to 3-week lows on Middle East tensions, mood cautious ahead of China data dump
The Hang Seng Index declined 1 per cent to 16,562.79 as of 10am local time, hitting a level not seen since March 28. The Tech Index fell 1.8 per cent, while the Shanghai Composite Index added 0.1 per cent.
E-commerce group Alibaba Group slipped 2.2 per cent to HK$70.05, peer JD.com declined 2.3 per cent to HK$100, and Tencent retreated 1.4 per cent to HK$305. EV maker Li Auto slumped 4.1 per cent to HK$113.10 and rival BYD lost 1 per cent to HK$208.
Elsewhere, Zhejiang Hongxin Technology, a vehicle wheels manufacturer, surged 278 per cent from its IPO price to 40.35 yuan per share on its trading debut in Shenzhen.
Other key Asian markets retreated across the board following the Middle East tensions. Japan’s Nikkei 225 lost 1.4 per cent, South Korea’s Kospi Index tumbled 1.1 per cent, while Australia’s S&P/ASX 200 declined 0.6 per cent.