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The Hang Seng Index dropped 1.8 per cent to 17,760.58 at 11am local time, after surging 3.9 per cent on Wednesday to a one-month high. The Tech Index lost 2.6 per cent, while the Shanghai Composite Index declined 0.5 per cent.
The city’s benchmark index has risen 6.2 per cent in November, after a rout in the preceding three months. Even so, the market has struggled to keep its gains on China’s stop-start economic recovery, as manufacturing shrank and deflation deepened while retail consumption rose in recent reports.
Mainland investors sold HK$9.5 billion (US$1.2 billion) worth of shares in Hong Kong on Wednesday, the most in more than two months, according to Stock Connect data. They took another HK$130 million off the table in early Thursday trading.
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US President Biden talks potential minerals partnership with Indonesian counterpart Widodo
US President Biden talks potential minerals partnership with Indonesian counterpart Widodo
Elsewhere, Zhejiang XiaSha Precision Manufacturing more than doubled to 110.55 yuan on its first day of trading in Shenzhen.
Asian stocks erased gains. Japan’s Nikkei 225 slumped 0.7 per cent, while South Korea’s Kospi lost 0.2 per cent and Australia’s S&P/ASX 200 declined 0.6 per cent.
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