Market Roundup

Hong Kong stocks were dragged down by the overnight plunge in US stocks, with technology stocks generally declining. The Hang Seng Index opened 412 points lower and then widened its losses, closing down 500 points or 1.8% at 26,572; the H-share Index fell 201 points or 2.1% to 9,398; and the Hang Seng Tech Index fell 168 points or 2.8% to 5,813. Total market turnover was HK$232.8 billion. Baidu (9888) shares plunged more than 6%, its biggest drop in nearly seven months. JD.com (9618) shares fell more than 5%. In contrast, JD Health (6618) reported a 29% increase in third-quarter revenue to RMB 17.1 billion, beating expectations, and its shares rose 6.6% against the market trend, making it the best-performing blue-chip stock.

Source: KGI Investment Products and Solutions Department

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