Hang Seng Index Extended Decline; JD.Com, Alibaba and Meituan Fell Over 3%

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Hang Seng Index Extended Decline; JD.Com, Alibaba and Meituan Fell Over 3%

South China Morning Post2023-04-13

Hong Kong stocks slipped amid a sell-off in Alibaba Group Holding after a report suggested its major investor SoftBank Group is preparing to sell all its stake in China’s biggest e-commerce platform ...

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Sigit waloyo
·2023-04-14
Nice
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blut
·2023-04-13
No worries it is only temporarily It will rebound. There some room for it to trend further.
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Tencent Holdings and BYD extended losses.The Hang Seng Index lost 0.3 percent to 20,249.04 as of 10.40am local time. The Tech Index declined 0.8 percent while the Shanghai Composite Index of onshore equities was little changed.Alibaba Group sank as much as 4 percent to HK$92.25, erasing HK$79 billion (US$10.1 billion) from its market value before recovering to HK$93.95. Tencent slid 2.2 percent HK$349.20 and BYD also weakened 2.2 percent to HK$217.80, adding to losses on Wednesday as corporate insiders retreated. JD.com fell 5.3 percent to HK$145 and Meituan slipped 3.3 percent to HK$126.70.What moved the Hang Seng Index?SoftBank has decided to sell almost all of its remaining interest in Alibaba Group and limit its exposure to China, the Financial Times reported on Thursday. 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There some room for it to&nbsp; trend&nbsp; further.&nbsp;","listText":"No worries it is only temporarily It will rebound. There some room for it to&nbsp; trend&nbsp; further.&nbsp;","text":"No worries it is only temporarily It will rebound. There some room for it to trend further.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945955537","repostId":1168557849,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":26,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}