Hong Kong shares end lower on profit-taking in tech, materials

Hong Kong shares closed lower on Wednesday as investors sold tech and material stocks after a sharp rally recently. ** At the close of trade, the Hang Seng index was down 93.73 points or 0.32% at 29,297.53. ** At close, China's A-shares were trading at a premium of 36.06% over Hong Kong-listed H-shares.

Hong Kong shares closed lower on Wednesday as investors sold tech and material stocks after a sharp rally recently.

** At the close of trade, the Hang Seng index was down 93.73 points or 0.32% at 29,297.53. The Hang Seng China Enterprises index fell 0.38% to 11,651.24. ** The sub-index of the Hang Seng tracking technology shares declined 1.51% after hitting a record high on Monday, while the materials sector dropped 2.1%. ** There's a correction after the recent strong gains, as mainland investors purchased billions of Hong Kong dollars a day on average via the Stock Connect linking mainland and Hong Kong in latest sessions, shoring up tech, material stocks. ** The indexes was also pulled lower by Geely Automobile Holdings Ltd, which fell 5.09%. ** Shares of China Traditional Chinese Medicine Holdings Co Ltd jumped as much as 7.9% to its highest since July 9, 2020 after Reuters reported that a consortium led by its parent plans to take the Chinese medicine maker private. ** China's main Shanghai Composite index closed up 0.11% at 3,573.34 points, while the blue-chip CSI300 index ended up 0.27%, on upbeat industrial data. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.57%, while Japan's Nikkei index closed up 0.31%. ** At close, China's A-shares were trading at a premium of 36.06% over Hong Kong-listed H-shares.