Hong Kong Shares Slip 0.1% as Tech, Pharma Retreat -- Market Talk

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Hong Kong Shares Slip 0.1% as Tech, Pharma Retreat -- Market Talk

Dow Jones2023-04-03

0150 GMT - Hong Kong's benchmark Hang Seng Index is down 0.1% in morning trade, falling to 20379.50 as investors go into wait-and-see mode after last week's rally, fueled by Chinese manufacturing growth. Tech shares are lower, retreating from gains last week sparked by Alibaba's planned reorganization. The Hang Seng Tech Index falls 0.6%, with Meituan down 2.0% and Baidu 1.5% lower. Pharma companies are also weighing on the market. Sino Biopharmaceutical drops 6.4% and Wuxi Biologics falls 3.1%. Among the gainers are energy stocks, which rise in line with sharp gains in crude prices. PetroChina is up 3.0% and Cnooc jumps 3.3%. (bingyan.wang@wsj.com)

(END) Dow Jones Newswires

April 02, 2023 21:53 ET (01:53 GMT)

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KLC
·2023-04-03
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