Hang Seng down 1.77% at 17,004 points (Il Sole 24 Ore Radiocor) - Hong Kong , 25 Jul - Hong Kong share prices closed sharply lower, extending the week's losses and falling to fresh three-month lows amid weak Asian markets.

The Hang Seng index closed down 1.77% at 17,004 points, the lowest close since April 23.

In Hong Kong stock market dealings technology shares again sank as disappointing earnings from US giants Tesla and Alphabet hammered the sector.

The technology sector was already nursing sharp losses last week on profit taking as expectations of US interest rate cuts, prompted investors to rotate into more economically sensitive sectors.

The Hang Seng Tech Index closed down 2.00%.

Property stocks also dropped, with the Hang Seng Mainland Properties Index down 1.11%.

Speculation over a Trump presidency continued to weigh on investor sentiment. In his first presidential term from 2017 to 2021, Trump maintained a largely hardline stance against China, slapping steep tariffs on the country and fuelling a prolonged trade war between the world's two major economies.

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(RADIOCOR) 25-07-24 11:33:01 (0320) 5 NNNN