Hong Kong stocks hit 7-week low, tech sell-off
Tuesday, May 11, 2021, 16:45
Hong Kong stocks fell on Tuesday to a seven-week low, tracking an overnight tech sell-off on the Wall Street.
The Hang Seng Index fell 2.0 percent to 28,013.81, lowest closing since March 25, while the Hang Seng China Enterprises Index lost 2.1 percent to 10,431.55 points.
Leading the retreat, the Hang Seng tech index slumped as much as 4.5 percent to a six-month low before ending down 3 percent, dropping more than 30 percent from a record high hit on Feb 18.
Tech giants Tencent and Alibaba slipped 1.8 percent and 3.5 percent, respectively.