Hong Kong Market falls for third day

Hong Kong share market finished shortened session lower on Friday, 09 February 2024, registering third day of consecutive decline, amid lingering concerns about Chinas economic weakness. At closing bell, the benchmark Hang Seng Index dropped 131.49 points, or 0.83%, to 15,746.58. The Hang Seng China Enterprises Index fell 53.29 points, or 1%, to 5,306.79.

Among blue chips, Developer Longfor Group slumped 6.7% to HK$8.53 and peer China Resources Land lost 1.9% to HK$23.50. Alibaba Group dropped 1.4% to HK$69.30 and rival JD.com fell 2.1% to HK$86.15. Meituan lost 1.3% to HK$67.30 and Baidu weakened 1.7% to HK$101.20. AIA Group dropped 0.2% to HK$62.80 and Ping An Insurance slumped 2.5% to HK$32.95. EV maker BYD dropped 0.7% to HK$182.90 and rival Li Auto weakened 1.9% to HK$116.90.

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