Market Roundup

Hong Kong stocks continued their downward trend throughout the day, following the overnight plunge in US tech stocks, with all three major indices falling. The Hang Seng Index closed at 25,220 points, down 615 points or 2.38%; the H-share Index fell 223 points or 2.45% to 8,919 points; and the Hang Seng Tech Index fell 179 points or 3.21% to 5,395 points. Total turnover for the day was HK$285.7 billion. Tech stocks faced heavy selling pressure, with JD Health (6618) falling 8.6%, making it the worst-performing blue chip; Link REIT (823) suffered its second consecutive day of heavy losses due to a reduced interim distribution and expectations of a deteriorating operating environment, closing at HK$35.9, down 7.47%; Baidu (9888) fell 5.8% to HK$107.3; and Alibaba (9988) fell 4.6% to HK$147.6. Xiaomi (1810) bucked the trend, rising 1%.

Source: KGI Investment Products and Solutions Department

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