(Hong Kong) The Hong Kong stock market opened on a softer note on May 19, with the Hang Seng Index (HSI) down 188 points, or 0.8%, at 23,156. The China Enterprises Index dropped 69 points, or 0.81%, to 8,399, while the Technology Index fell 53 points, or 1.01%, to 5,227.
Technology stocks saw broad declines. Alibaba Group slid 2.8%, Meituan lost 1.7%, Xiaomi Corporation and JD.com both fell 1.3%, and Kuaishou dropped 0.8%. Tencent Holdings remained unchanged.
The financial sector also struggled, with HSBC Holdings down 0.2%, AIA Group declining 0.9%, Ping An Insurance losing 1.1%, and Hong Kong Exchanges and Clearing dropping 1.5%.
Despite the overall market weakness, newcomers to the Hang Seng Index performed well. ZTO Express gained 2.8%, and Midea Group rose 2.1%. Meanwhile, BYD Company, recently added to the Technology Index, showed no change in its stock price.
Source: Dimsumdaily.hk
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