Radiocor News

Hong Kong shares close lower; property, tech stocks weigh

Hang Seng down 0.52% at 18,335 points (Il Sole 24 Ore Radiocor) - Hong Kong , 20 Jun - Hong Kong shares closed lower amid muted Asian markets as they took a breather from their biggest daily gain in three months in the previous session.

In the city's stock market dealings property shares dipped as the People's Bank of China's left its one- and five-year loan prime rates unchanged, despite mixed economic data released earlier this week that underscored the country's bumpy recovery.

The former serves as a benchmark for most corporate and household loans and the latter for property mortgages.

The Hang Seng Mainland Properties Index sank 2.54%.

Technology stocks also dropped, after soaring yesterday as US chipmaking giant Nvidia overtook Microsoft to become the world's most valuable company amid the ongoing AI boom.

The Hang Seng Tech Index slid 1.68%.

The Hang Seng index closed down 0.52% at 18,335 point.

Yesterday the benchmark index bounced back from near two-month lows hit last week, recovering the 18,000 mark.

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(RADIOCOR) 20-06-24 12:29:09 (0309) 5 NNNN

 


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