Address

Precise Investors

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.

Important:

This article is for information purposes only.

Please remember that financial investments 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.

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.

Leave a Reply

20 + 7 =