Media365
Hong Kong stocks fell on Monday, led by major tech heavyweights, as investors trimmed positions and locked in profits while trading turned muted ahead of the Lunar New Year break.
The Hang Seng Index slid 0.3 per cent to 26,501.20 at the open. The Hang Seng Tech Index dropped 0.2 per cent.
E-commerce major Alibaba Group Holding slumped 1.8 per cent to HK$152.60, and peer JD.com dropped 0.7 per cent to HK$105.50. Search-engine operator Baidu fell 1.5 per cent to HK$133.80, and food-delivery service provider Meituan lost 0.6 per cent to HK$81.65.
Limiting losses, online-game provider NetEase added 1.8 per cent to HK$189.10, and power-tools manufacturer Techtronic Industries advanced 1.1 per cent to HK$119.90. Gold miner Zijin Mining climbed 0.7 per cent to HK$41.86, and property developer Longfor Group rose 1.5 per cent to HK$10.18.
Hong Kong’s stock market will close after the morning session on Monday and reopen on Friday, while the mainland’s bourses are closed all week. Trading volume was light ahead of the holidays, as traders locked in profits before the break.
Among other major Asian markets, Australia’s S&P/ASX 200 added 0.1 per cent, while South Korea’s Kospi fell 0.3 per cent and Japan’s Nikkei 225 was little changed.
