Precise Investors

Monday, August 15, 2022
Stocks & Shares

Hong Kong shares drop on developers, Tencent

Hong Kong shares fell the most in almost two weeks Wednesday, with weak global cues and worries over a selloff in local penny stocks encouraging investors to lock in profits in one of Asia’s best-performing markets this year.

The Hang Seng Index closed 0.6% lower at 25,683.50. A gauge of property developers slid to a one-month low amid some doubts soaring prices in the city can be sustained. Hang Lung Properties and Sun Hung Kai Properties shed at least 1.5%, while New World Development gave up 1.1%. Heavyweight Tencent Holdings lost 1.8% after U.S. technology stocks slumped overnight.


The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply