Hong Kong Market extends losses; Tech leads fall

Hong Kong stock market finished lower for second consecutive session on Thursday, 18 November 2021, with Chinese heavyweight tech stocks leading losses after quarterly results from Baidu and Bilibili rekindled concerns about the impact of harsh regulations by government officials over the past year.

At closing bell, the benchmark Hang Seng Index dropped 1.29%, or 330.36 points, to 25,319.72. The Hang Seng China Enterprises Index dropped 1.71%, or 157.17 points, to 9,036.04.

Shares of tech companies declined on concerns about weaker earnings. Alibaba tumbled 5.3%, before the e-commerce group's earnings report later Thursday, while its health unit crashed 6.1%. Rival JD.com fell 3.6%. Food delivery platform operator Meituan slipped 2.5% before its report card next week.

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