Hong Kong shares close lower on tech, healthcare retreat

Hong Kong shares settled lower on Wednesday, as technology and healthcare stocks dropped tracking mainland markets with investors taking a pause after a rally fuelled by upbeat factory data. ** The sub-index of the Hang Seng tracking energy shares rose 0.7%, the IT sector dipped 2.09%, the financial sector ended 0.59% higher and the property sector rose 0.11%.

Hong Kong shares settled lower on Wednesday, as technology and healthcare stocks dropped tracking mainland markets with investors taking a pause after a rally fuelled by upbeat factory data. ** At the close of trade, the Hang Seng index was down 35.10 points, or 0.13%, at 26,532.58. The Hang Seng China Enterprises index fell 0.81% to 10,573.79. ** The sub-index of the Hang Seng tracking energy shares rose 0.7%, the IT sector dipped 2.09%, the financial sector ended 0.59% higher and the property sector rose 0.11%. ** The top gainer on the Hang Seng was HSBC Holdings PLC , which climbed 3.66%, while the biggest loser was Xiaomi Corp, which fell 7.07% on a near $4 billion share sale. ** China's main Shanghai Composite index closed down 0.07%, while the blue-chip CSI300 index ended flat. ** Globally, renewed talk of a possible U.S. stimulus package failed to boost most of the Asian markets. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.21%, while Japan's Nikkei index closed up 0.05%. ** Joe Biden will not immediately cancel the Phase 1 trade agreement that President Donald Trump struck with China nor take steps to remove tariffs on Chinese exports, the New York Times on Wednesday quoted the U.S. president-elect as saying.

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