Hong Kong Shares Lower as Tech, Property Stocks Lose Ground -- Market Talk
Dow Jones2023-11-29
0159 GMT - Hong Kong equities are down in early trading, dragged by weakness in tech and property names. Meituan sheds 8.5% after posting solid earnings but a downbeat forecast for the final quarter, expanding its loss this week to 13%. L'Occitane falls 13% after posting a steep drop in half-year profit, with higher marketing expenses cutting into higher sales. Alibaba Health leads Hang Seng Index gainers, rising 4.1% after 1H profit jumped. The benchmark index is down 1.0% at 17179.29. The local tech index sheds 1.2% to 3951.60, while the Hang Seng Main Properties Index is 1.5% lower.(ben.otto@wsj.com; @benottoWSJ)
(END) Dow Jones Newswires
November 28, 2023 20:59 ET (01:59 GMT)
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