Hong Kong stocks end lower as blue-chip tech, healthcare firms retreat

Hong Kong shares retreated from a three-month high to close lower on Wednesday as investors booked profits following a technology and healthcare rally, tracking a market correction in the mainland.

Hong Kong shares retreated from a three-month high to close lower on Wednesday as investors booked profits following a technology and healthcare rally, tracking a market correction in the mainland. ** At the close of trade, the Hang Seng index was down 170.38 points, or 0.58%, at 29,297.62. The Hang Seng China Enterprises index fell 0.35% to 10,951.84.

** The subindex of the Hang Seng tracking healthcare shares dropped 2.01%, while the tech sector dipped 1.04%. ** The benchmark Hang Seng reached its highest level since March 3 on Tuesday, as investors took heart from upbeat economic data from China and the United States.

** The top gainer on the Hang Seng on Wednesday was Geely Automobile Holdings Ltd, which gained 5.94%, while the biggest loser was WuXi Biologics Inc, down 3.05%. ** Heavyweight tech shares including Alibaba Group Holding and Meituan declined by 1.74% and 0.38%, respectively, after the sector rallied hard in the previous session of this week.

** China's main Shanghai Composite index closed down 0.76% at 3,597.14 points, as investors booked profits after a rally in healthcare firms driven by the country's recent three-child policy. ** Tracking the mainland, Hong Kong markets largely shrugged off the latest coronavirus outbreak in China's most populous province of Guangdong.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.32%, while Japan's Nikkei index closed up 0.46%.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)