Media365
The Hang Seng Tech Index fell 1.8 per cent. On the mainland, the CSI 300 Index slid 0.7 per cent and the Shanghai Composite Index shed 0.4 per cent.
Gold producer Zijin Mining Group slumped 5.4 per cent to HK$30.02 as an unwinding of haven trade sent bullion prices tumbling from a record high. Electric-vehicle maker Li Auto tumbled 3.9 per cent to HK$77.75. Alibaba Group Holding fell 2.6 per cent to HK$159 and peer JD.com retreated 2.4 per cent to HK$99.90. Baidu surged 2.9 per cent to HK$121.90 on a media report that the search-engine operator would roll out new products featuring AI technology next week.
“The results have been fully anticipated by investors,” said Cliff Zhao, a strategist at CCB International in Hong Kong. “Market sentiment calls for a policy catalyst or an improvement in corporate earnings. Otherwise, the Hang Seng Index will hover around 26,000 in the near term.”
