Tech stocks struggle as Meituan and Xiaomi decline
Hong Kong’s high-volume stock list for the day showed mixed results, particularly in the technology sector. Meituan (3690) led the declines, dropping 3.48% to close at 169.3 HKD. Xiaomi Corporation (1810) also saw a drop, declining by 2.77% to close at 28.10 HKD. Despite these dips, Tencent Holdings Limited (700) managed a small gain of 0.64%, ending the day at 406.4 HKD. Semiconductor Manufacturing International Corporation (981) remained relatively steady, with a slight decrease of 0.18%, closing at 27.10 HKD.
Financial and real estate stocks under pressure
Sunac China Holdings (1918) saw a sharp 4.58% drop, closing at 2.71 HKD, reflecting ongoing challenges within the real estate sector. The financial sector also experienced declines, with AIA Group Limited (1299) dropping by 1.95% to close at 57.85 HKD. These shifts indicate a cautious market, as investors monitor industry trends and macroeconomic indicators affecting financial and real estate stocks in Hong Kong.
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