Alibaba Down Nearly 3%, NIO Down Nearly 5%: Hong Kong Stocks Set for Losing Week

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Alibaba Down Nearly 3%, NIO Down Nearly 5%: Hong Kong Stocks Set for Losing Week

South China Morning Post2023-02-10

Local stocks are headed for a second losing week, as mixed recovery signals in China cloud earnings outlookThe US is said to be mulling new rules to prevent US investment in Chinese tech companies, ...

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Sigit waloyo
·2023-02-11
Move on
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Andrewinho
·2023-02-10
🤭🤭🤭
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Rotiprata
·2023-02-10
Time to buy the dip?
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Photo: BloombergHong Kong stocks retreated as mixed signs of recovery in China cloud earnings prospects, while rising geopolitical tensions stoked concerns about new tech sanctions on Chinese companies, sapping appetite for riskier assets.The Hang Seng Index fell 1.6 per cent to 21,282.30 as of 11.00 am local time, bringing the drop so far this week to about 1 per cent. The Tech Index tumbled 3.7 per cent, while the Shanghai Composite Index weakened 0.2 per cent.Alibaba Group slipped 2.9 per cent to HK$104.50, Baidu dropped 5.9 per cent to HK$142.70 while JD.com tumbled 5.5 per cent to HK$212.20. 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