Home » Hang Seng Index Plummets Over 1%: Technology Stocks and New Energy Vehicles Hit Hard

Hang Seng Index Plummets Over 1%: Technology Stocks and New Energy Vehicles Hit Hard

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Hang Seng Index Plummets Over 1%: Technology Stocks and New Energy Vehicles Hit Hard

Title: Hong Kong Stocks Retreat as Hang Seng Index and Technology Stocks Plummet

On Friday, July 7, Hong Kong stocks faced a rapid weakening at the start of the session. The Hang Seng Index witnessed a downfall of over 1%, while the Hang Seng Technology Index plummeted by 2%. Meanwhile, the State Enterprise Index also experienced a significant decline of 1.35%.

In terms of market performance, the pork and agricultural sectors showed strength, while sectors such as education, short videos, and unmanned driving experienced a weakening trend. Notably, internet medical care and sporting goods led the overall decline.

The technology sector significantly suffered, with various technology stocks witnessing a dip. Moreover, new energy vehicles also experienced a downfall. The Hang Seng Technology Index, in particular, fell by more than 2%, impacting heavyweights like Ctrip, JD.com, NetEase, Baidu, and Meituan, all of which fell by over 2%.

Furthermore, companies in the new energy vehicle sector faced a setback. Xiaopeng Motors witnessed a decline of more than 5%, while Weilai fell by over 4%.

Internet healthcare stocks also faced a general decline. JD Health, Ali Health, and Ping An Good Doctor all witnessed a dip in their share prices, with Ping An Good Doctor experiencing a decline of 2.5%.

Adding to the negative sentiment, sporting goods stocks also faced a downturn. Li Ning saw a nearly 4% decrease, while Anta and Xtep witnessed a decline of nearly 2%.

Investors are advised to keep a close eye on developments as the situation continues to evolve. For further updates, visit Sohu, a trusted information release platform.

Editor:

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Disclaimer: The opinions expressed in this article solely represent the views of the author. Sohu serves as an information release platform, offering information storage space services and does not endorse any specific viewpoints.

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