Hong Kong stocks fall as turnover drops to the lowest this week; Tencent declines
- Hang Seng ends past two days of winning streak to end lower, dragged down by AIA and Tencent
- China stocks end mix, with CSI 300 down on tech stocks
Hong Kong index snapped a two-day winning streak to end lower, while China indexes finished Thursday mixed, as investors waited for further clues on the state of China’s economy after supportive measures this week from the central bank.
The Hang Seng closed 0.3 per cent lower, at 27,800.49.
The CSI 300 ended 0.1 per cent lower, at 4,027.15; while the Shanghai Composite Index ended flat, at 3,017.07. The Shenzhen Component Index rose less than 0.01 per cent to 10,296.29.
In Hong Kong, turnover dropped to the lowest this week, totalling HK$79.3 billion.
“The Hang Seng has risen by over 5 per cent this month. It’s natural that trading in the index has turned more sluggish today,” said Kenny Tang, chief executive of Royston Securities, who sees upside at the 28,000 level this week.