Hong Kong stocks slip on China concerns after sharp rally
** Trading was quiet as most market participants stayed on the sidelines ahead of U.S. jobs data on Friday and China was closed for the week for National Day holiday. ** At the midday break, the Hang Seng index was down 77.79 points, or 0.43%, at 18,010.18, with mainland property developers shedding ground after three sessions of gains.
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- Hong Kong
Hong Kong shares slid on Thursday after a sharp rally in the previous session, underperforming firmer Asian markets as investors focussed on China's economic growth prospects. ** Trading was quiet as most market participants stayed on the sidelines ahead of U.S. jobs data on Friday and China was closed for the week for National Day holiday.
** At the midday break, the Hang Seng index was down 77.79 points, or 0.43%, at 18,010.18, with mainland property developers shedding ground after three sessions of gains. The Hang Seng China Enterprises index fell 0.69% to 6,181.86. ** The Hang Seng Mainland Properties Index fell 1.2%. The sub-index of the Hang Seng tracking energy shares climbed 0.5% and the Hong Kong property sector edged up 0.09%, while the IT sector dipped 0.61% and the financial sector slid 0.34%
** The top gainer on the Hang Seng was Wharf Real Estate Investment Company, which rose 4.27%, while the biggest loser was Hansoh Pharmaceutical Group, which fell 6.18%. ** Shares of Chinese lithium battery maker CALB Co Ltd slipped below their HK$38 apiece offering price on debut. The company raised $1.28 billion in its initial public offering, the largest in Hong Kong in 2022.
** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.41%, while Japan's Nikkei index rose 0.89%. ** The three biggest H-shares percentage decliners were Geely Automobile, which was down 4.87%, Innovent Biologics, which fell 4.2%, and Xinyi Solar, down by 3.1%.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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