Radiocor News

Hong Kong shares slump to 2-mth low; tech, property stocks dip

Hang Seng down 2.06% at 17,716 points (Il Sole 24 Ore Radiocor) - Hong Kong , 27 Jun - Hong Kong shares closed sharply lower after two straight flat sessions, leading the losses amid weak Asian markets and slipping their lowest levels in two months.

In Hong Kong stock market dealings consumer non-cyclical shares were among the biggest decliners.

Technology stocks sank, resuming a recent selloff as yesterday's tentative rebound lost steam, and tracking weakness in US stock index futures following disappointing guidance from chipmaking major Micron.

Yesterday tech stocks rebounded from a four-day drop as Beijing approved 104 new video games from mainland developers this month.

Today the Hang Seng Tech Index dipped 2.73%.

Property shares also slumped, resuming a recent selloff after yesterday's flat session.

The Hang Seng Mainland Properties Index sank 2.72%.

Growth concerns continued to weigh on investor sentiment as data showed growth in the country's industrial profits narrowed in May.

Trade tensions also continued to keep sentiment in check.

The Hang Seng index closed down 2.06% at 17,716 points.

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(RADIOCOR) 27-06-24 12:14:55 (0320) 5 NNNN

 


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