Hong Kong Stocks Fall Further Led by Tencent, Xiaomi as U.S. Labels Dozens of Chinese Companies as Military Entities

MT Newswires Live

01-07

Hong Kong stocks fell further than yesterday after Chinese tech stocks suffered a hit when the U.S. dragged dozens of Chinese companies into a list of military entities.

The Hang Seng Index fell 1.22%, or 240.71 points, to close at 19,447.58 on Tuesday. The Hang Seng China Enterprises Index fell 1.20%, or 85.77 points, to end at 7,049.71.

U.S.A. categorized Tencent (HKG:0700) along with Contemporary Amperex Technology as Chinese military entities, resulting in heightened geo-political tensions. The move made Tencent close nearly 8% lower on Tuesday.

In market News, Tencent (HKG:0700) closed nearly 8% lower on Tuesday, followed by Xiaomi (HKG:1810) closing over 6% lower. Meituan (HKG:3690), Alibaba Group (HKG:9988), and Ping An Insurance (Group) (HKG:2318, SHA:601318) all closed in red.

In corporate news, CMOC Group's (HKG:3993, SHA:603993) output volume for most of its major products grew year on year in 2024 with the shares of the company closing over 4% higher on Tuesday.

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The Hang Seng China Enterprises Index fell 1.20%, or 85.77 points, to end at 7,049.71.</p><p>U.S.A. categorized Tencent (HKG:0700) along with Contemporary Amperex Technology as Chinese military entities, resulting in heightened geo-political tensions. The move made Tencent close nearly 8% lower on Tuesday.</p><p>In market News, Tencent (HKG:0700) closed nearly 8% lower on Tuesday, followed by Xiaomi (HKG:1810) closing over 6% lower. Meituan (HKG:3690), Alibaba Group (HKG:9988), and Ping An Insurance (Group) (HKG:2318, SHA:601318) all closed in red.</p><p>In corporate news, CMOC Group's (HKG:3993, SHA:603993) output volume for most of its major products grew year on year in 2024 with the shares of the company closing over 4% higher on Tuesday.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999014898.SGD","symbol_name":"United Global Quality Growth Fund Dis SGD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2501222066","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501222066","pubTimestamp":1736240332,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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The Hang Seng China Enterprises Index fell 1.20%, or 85.77 points, to end at 7,049.71.U.S.A. categorized Tencent (HKG:0700) along with Contemporary Amperex Technology as Chinese military entities, resulting in heightened geo-political tensions. The move made Tencent close nearly 8% lower on Tuesday.In market News, Tencent (HKG:0700) closed nearly 8% lower on Tuesday, followed by Xiaomi (HKG:1810) closing over 6% lower. Meituan (HKG:3690), Alibaba Group (HKG:9988), and Ping An Insurance (Group) (HKG:2318, SHA:601318) all closed in red.In corporate news, CMOC Group's (HKG:3993, SHA:603993) output volume for most of its major products grew year on year in 2024 with the shares of the company closing over 4% higher on Tuesday.","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":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0}}}