Global Market News

Hong Kong Hang Seng Down 1.2% as Property, Tech Issues Decline


Last updated: 09/14/2021 06:19:09

06:19 AM EDT, 09/14/2021 (MT Newswires) -- The Hong Kong Hang Seng Index opened evenly but slumped in afternoon trading, finishing down 1.2% as traders again backed away from property and tech issues. Shares in China Evergrande (3333:HK) fell 11.9% after the giant developer disclosed in an exchange filing that it had hired financial advisers to work on debt problems.

The broad gauge Hang Seng fell 311.58 to 25,502.23, as losing issues outnumbered gainers 56 to three. The Hang Seng TECH index fell 1.4% on the day, while the Mainland Properties Index retreated 5.1%.

Leading the upside on a down day were PetroChina (857:HK), up 3.9%, followed by battery-car maker BYD (1211:HK), up 2.7%, and then Wuxi Biologics (2269:HK), up 1.8%.

On the downside were Alibaba Health Information Technologies (241:HK), off 6.8%, and then developer Country Garden (2007:HK), off 5.3.%.

On the mainland, the Shanghai Composite fell 1.4% to 3,662.60.
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