On Tuesday, October 15, the Hong Kong stock market experienced a significant decline. The Hang Seng Index (HSI) fell by 3.67%, the Hang Seng China Enterprises Index (HSCEI) dropped by 3.99%, the Hang Seng Tech Index (HSTECH) plummeted by 4.65%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) decreased by 3.76%.
In terms of industry performance, the Specialized Consumer Services sector saw a notable increase of 10.54%, while the Industrial Gases sector rose by 2.00%. Other sectors such as Office Services & Supplies and Human Resource & Employment Services also posted gains of 1.33% and 1.31%, respectively.
Among individual stocks, CHINA RES BEER led the decline with a significant drop of 12.87%, as beer stocks in Hong Kong fell sharply. TSINGTAO BREW also saw a substantial decrease of 7.37%. SENSETIME-W fell by 5.56%, and GEELY AUTO dropped by 5.96%. KINGDEE INT'L was down by 5.81%, and CHINA RAILWAY decreased by 5.98%.
In the technology sector, MEITUAN-W fell by 6.97%, TENCENT dropped by 4.36%, and BILIBILI-W declined by 7.81%. The broader tech sector continued to face pressure, with several major companies experiencing declines of over 5%.
Additionally, LI AUTO-W fell by 6.94% after the company announced that it had rolled out its 1 millionth vehicle from its Changzhou plant, setting a record for the fastest luxury brand in China to reach this milestone. XINYI SOLAR also saw a significant drop of 8.83%.
Overall, the Hong Kong stock market faced a broad-based sell-off, with significant declines across various sectors and major stocks. Investors are advised to stay cautious and monitor market developments closely.
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