Hong Kong stocks end lower 

Dhaka,  Thu,  24 August 2017
Published : 12 Jun 2017, 15:23:35

Hong Kong stocks end lower 

Hong Kong stocks end lower 
Hong Kong stocks ended lower in nearly two months on Monday, as a slump in tech shares - fanned by the sell-off in their US counterparts - triggered broader profit-taking in what had been one of the world's best-performing equity markets this year.

Sentiment was also hurt by worries that tighter credit in China could slow growth in the world's second-biggest economy.

The Hang Seng index fell 1.2 per cent, to 25,708.04, while the China Enterprises Index lost 1.0 per cent, to 10,485.85 points.

Hong Kong-listed tech shares dropped sharply, following a sell-off on Friday in technology stocks on Wall Street that was triggered by concerns about Apple's new iPhones and a cautious Goldman Sachs report about the sector.

An index tracking IT shares tumbled 2.4 per cent, led by Chinese tech giant Tencent Holdings Ltd.

Shares fell across the board. Bucking the trend, China Vanke rose 1.7 per cent in Hong Kong, after Shenzhen Metro became its top shareholder, replacing rival developer China Evergrande Group, according to Reuters.
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