0153 GMT - Hong Kong's Hang Seng Index falls 1.1% to 22692.06, weighed by tech stocks. Tech stocks may be facing profit-taking amid concerns about President Trump's new 25% tariff threats on some goods, the Saxo APAC research team writes in a commentary. Even though Beijing has established a pro-tech stance, there are some doubts about the recent Chinese stock rally, they add. Among the biggest decliners on the benchmark index, Kuaishou Technology loses 4.1%, Alibaba Group is 2.8% lower and Tencent falls 2.3%. Meituan sheds 5.4%. Health-related stocks lead the gains, with WuXi AppTec up 3.1%, Alibaba Health Information Technology adding 2.8% and CSPC Pharmaceutical Group rising 2.7%. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
0153 GMT - Hong Kong's Hang Seng Index falls 1.1% to 22692.06, weighed by tech stocks. Tech stocks may be facing profit-taking amid concerns about President Trump's new 25% tariff threats on some goods, the Saxo APAC research team writes in a commentary. Even though Beijing has established a pro-tech stance, there are some doubts about the recent Chinese stock rally, they add. Among the biggest decliners on the benchmark index, Kuaishou Technology loses 4.1%, Alibaba Group is 2.8% lower and Tencent falls 2.3%. Meituan sheds 5.4%. Health-related stocks lead the gains, with WuXi AppTec up 3.1%, Alibaba Health Information Technology adding 2.8% and CSPC Pharmaceutical Group rising 2.7%. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 20:54 ET (01:54 GMT)
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