Hong Kong stocks post longest losing streak since January 2024 amid renewed tensions
Investors weigh geopolitical risks after rout sparked by rising China-US tensions
The Hang Seng Index fell 1.7 per cent to 25,441.35 at the close, registering a 6.8 per cent decline in the seven-day run. The Hang Seng Tech Index retreated 1.7 per cent.
On the mainland, the CSI 300 Index slid 1.2 per cent and the Shanghai Composite Index fell 0.6 per cent.
Galaxy Entertainment Group sank 5.5 per cent to HK$35.58 and Sands China retreated 4.7 per cent to HK$18.13 after American brokerage Jefferies said Macau’s casino revenue missed expectations during the Chinese National Day holidays. Chinese chipmaker Semiconductor Manufacturing International Corp slumped 8.5 per cent to HK$73.35. Alibaba Group Holding lost 4.3 per cent to HK$155.60 and Tencent Holdings fell 2.8 per cent to HK$621.
Bucking the downtrend, Pop Mart International Group, the producer of hit plush toy Labubu, gained 0.8 per cent to HK$263 after Apple CEO Tim Cook visited an exhibition by the company.