Hong Kong Shares Fall as Property, Tech Stocks Weigh -- Market Talk

Dow Jones

2024-10-08

0421 GMT - Hong Kong shares are lower, with the Hang Seng Index falling 5.6% to 21810.00 at the midday break. The Hang Seng Tech index is 7.9% lower at 4692.45. Investors appear to be taking profits after the Hang Seng Index surged 25% in a month. China's economic planner laid out further actions to support the economy this morning, but didn't unveil new stimulus measures, disappointing investors. Property stocks are leading the declines, with Longfor Group falling 17% and China Resources Land 11% lower. Technology stocks are also lower with Alibaba Health Information losing 13% and Meituan down 9.2%. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

October 08, 2024 00:21 ET (04:21 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The Hang Seng Tech index is 7.9% lower at 4692.45. Investors appear to be taking profits after the Hang Seng Index surged 25% in a month. China's economic planner laid out further actions to support the economy this morning, but didn't unveil new stimulus measures, disappointing investors. Property stocks are leading the declines, with Longfor Group falling 17% and China Resources Land 11% lower. Technology stocks are also lower with Alibaba Health Information losing 13% and Meituan down 9.2%. 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The Hang Seng Tech index is 7.9% lower at 4692.45. Investors appear to be taking profits after the Hang Seng Index surged 25% in a month. China's economic planner laid out further actions to support the economy this morning, but didn't unveil new stimulus measures, disappointing investors. Property stocks are leading the declines, with Longfor Group falling 17% and China Resources Land 11% lower. Technology stocks are also lower with Alibaba Health Information losing 13% and Meituan down 9.2%. 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The Hang Seng Tech index is 7.9% lower at 4692.45. Investors appear to be taking profits after the Hang Seng Index surged 25% in a month. China's economic planner laid out further actions to support the economy this morning, but didn't unveil new stimulus measures, disappointing investors. Property stocks are leading the declines, with Longfor Group falling 17% and China Resources Land 11% lower. Technology stocks are also lower with Alibaba Health Information losing 13% and Meituan down 9.2%. (tracy.qu@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 08, 2024 00:21 ET (04:21 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0}}}