Following yesterday’s surge, many Hong Kong stocks turned green in intraday trading today. Technology stocks led the decline. Meituan fell 2.72% and Alibaba fell 1.71%. Mainland property stocks bucked the trend and surged, and Sunac China rose nearly 10%.
In the Hong Kong stock market on October 21, the Hong Kong Hang Seng Index fell nearly 1%, and the Hang Seng Technology Index fell more than 1.5%.
Technology stocks such as Meituan and Alibaba led the decline.
So far, Meituan has fallen nearly 3%.
So far, Bilibili, Tencent, and Alibaba have all fallen nearly 2%.
The medical sector was among the top decliners, with Austar Life Technology falling more than 8%, WuXi Biologics and Fosun Pharma falling more than 3%
Mainland property stocks bucked the trend and led the gains, Sunac Services and Sunac China rose nearly 10%, and CIFI Holdings rose nearly 9%.
Yan Zhaojun, a strategist at China-Thailand International, believes that the current regulatory signals have weakened. Meituan’s fines are lower than expected, and the worst of the regulation of the technology industry has passed. The Hang Seng Technology Index may have bottomed out and may be in the early stages of a rebound.
(The article is being updated……)
Risk warning and exemption clause
Market risk, the investment need to be cautious. This article does not constitute personal investment advice, nor does it take into account the specific investment objectives, financial situation or needs of individual users. Users should consider whether any opinions, opinions or conclusions in this article are in accordance with their specific conditions. Invest accordingly at your own risk.