Hong Kong Market closes 0.54% lower

Hong Kong share market finished lower for second straight session on Monday, 26 February 2024, as investors refrained from placing large bets ahead of the release of key corporate earnings.

Electric vehicle maker Li Auto, Internet search engine operator Baidu and mobile games developer NetEase will all publish earnings this week.

At closing bell, the benchmark Hang Seng Index fell 91.12 points, or 0.54%, to 16,634.74. The Hang Seng China Enterprises Index dropped 41.74 points, or 0.72%, to 5,723.36.

Among blue chips, Alibaba Group weakened 0.5% to HK$74.15 and Tencent lost 1.2% to HK$287.20. Baidu slid 2.2% to HK$107.50, while online game operator NetEase retreated 1.1% to HK$167.60. Tempering losses, EV maker Li Auto added 0.6% to HK$139.90. BYD rallied 1.5% to HK$187.90 after it started taking orders for its newly-introduced luxury Yangwang U9 model.

 

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