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Hong Kong Stocks Turn Negative, Erasing Earlier Gains; NIO Drops 4%; Ronshine China Sinks 32%

Tiger Newspress
2024-10-17

Hong Kong stocks turned negative in afternoon trading, erasing earlier gains, after an underwhelming briefing by housing ministry, where few incremental policies on boosting home demand were announced.

The Hang Seng Index fell 0.2%, while the Hang Seng Tech Index fell 0.1%.

In terms of individual stocks, SenseTime rose 3.3%; Xiaomi rose 2.9%; JD.com rose 1.3%; NIO fell 4%.

While Chinese property developers that rose sharply yesterday sank. Ronshine China fell 32%; SUNAC fell 25%; R&F Properties fell 21%; China Vanke fell 15%; Longfor Group fell 12%.

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