Asian market news : Hang Seng Index Falls by 1.62%, Tech Index Declines 2.46%, Shing Chi Soars 122.22%

Hong Kong’s Hang Seng Index dropped 1.62%, driven by declines in tech stocks. Shing Chi Holdings Limited surged 122.22%, marking a volatile trading session.

The Hong Kong stock market experienced a turbulent trading day as major indices closed in negative territory. The Hang Seng Index fell by 1.62% to 19,781.03 HKD, weighed down by broad market declines. The Hang Seng Tech Index saw an even sharper drop, losing 2.46% to close at 4,578.24 HKD. Similarly, the Hang Seng China Enterprises Index and Hang Seng China 50 Index decreased by 1.94% and 1.87%, respectively.

Among individual stocks, Semiconductor Manufacturing International Corporation (SMIC) emerged as a bright spot, gaining 0.72% to close at 42.20 HKD. However, notable losses included Meituan, down 3.72%, and Sunac China Holdings, which dropped 3.61%.

On the volatility front, Shing Chi Holdings Limited recorded a staggering 122.22% increase, closing at 0.100 HKD. Anchorstone Holdings Limited and Janco Holdings Limited also posted significant gains of 52.17% and 29.63%, respectively.

Tech giant Tencent Holdings Limited declined by 1.45% to 381.8 HKD, while Xiaomi Corporation fell by 0.97% to 35.55 HKD. Hong Kong Exchanges & Clearing saw a slight dip of 0.41%, closing at 292.8 HKD.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Stock market investments involve risks; please consult a professional before investing.