Hong Kong shares dip as Meituan leads tech sell-off with 6.53 per cent plunge
Hong Kong's Hang Seng Index closed 32 points lower on Monday, dragged by a 6.53 per cent slump in tech blue chip Meituan. Chipmakers bucked the trend with gains, while mainland markets showed mixed results.
The Hang Seng Index closed down 32 points, or 0.13 per cent, at 24,448 points on Monday 9 November, with full-day turnover reaching HK$173.7 billion, according to the stock exchange. The technology gauge slipped 0.92 per cent to 4,040 points.
Tech blue chip Meituan (3690) plunged 6.53 per cent, making it the worst-performing blue chip and dragging down Hong Kong stocks. CATL (3750) also fell 2.68 per cent. Other tech heavyweights were broadly muted, with Alibaba (9988) slipping 0.29 per cent and Tencent (0700) down 0.33 per cent.
Chipmakers extended early trading gains, bucking the downward trend. Hua Hong Grace Semiconductor (1347) rose 2.35 per cent, while Semiconductor Manufacturing International Corporation (0981) gained 1 per cent.
On the mainland, the Shanghai Stock Exchange Composite Index edged up 11 points, or 0.32 per cent, to 3,660 points. The Shenzhen Stock Exchange Composite Index fell 0.27 per cent to 11,145 points.