Hang Seng Index falls below 23,000 points as tech selloff deepens
Hong Kong stocks reversed course on Thursday, with the Hang Seng Index closing below 23,000 points. A sharp selloff in technology stocks dragged the index down 0.6 per cent, while mainland indices also suffered losses.
Hong Kong stocks reversed course and closed below 23,000 points on Thursday, as a selloff in technology stocks quickened in the afternoon. The benchmark Hang Seng Index lost 136 points, or 0.6 per cent, to 22,958 points, according to market data.
The market turnover stood at HK$189.5 billion. The Hang Seng Tech Index plunged by 2.8 per cent to 3,744 points, underscoring the pressure on the sector.
On the mainland, the Shanghai Stock Exchange Composite Index fell 0.8 per cent to 3,651 points. The Shenzhen Stock Exchange Component Index slumped by 2.9 per cent to 11,138 points, reflecting a broader regional downturn in technology shares.