(Hong Kong) The Hang Seng Index started the month of August by opening 28 points lower, marking a decrease of 0.12% at 24,744 points. The H-share index dropped by 12 points or 0.14%, reaching 8,870 points, while the technology index saw a decline of 5 points or 0.09%, standing at 5,447 points.
In the tech sector, stock movements varied with Alibaba rising by 1.82%, Kuaishou up by 1.3%, and Tencent seeing a 0.27% increase. Conversely, Meituan fell by 0.41%, Xiaomi Group by 0.66%, and Trip.com Group by 1.42%.
Financial stocks exhibited weakness, with HSBC Holdings dropping by 0.68%; AIA Group showing no significant change; Hong Kong Exchanges and Clearing falling by 0.19%; and China Ping An declining by 0.28%. Standard Chartered rebounded by 0.7%.
Sinopec issued a profit warning, resulting in a 2.39% decrease in its stock value.
Source: DimsumDaily
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