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<HK Open>HSI Dives 497 pts; Tencent Plunges over 6% Post-results; Alibaba Depressed
Mirroring the weakness in the external markets, the HSI opened low by 497 pts or 2.41%, to post at 20,146; the HSCEI sagged 198 pts or 2.8% to 6,891; and HSTECH waned 182 pts or 4.3% to 4,077.
TENCENT (00700.HK)'s quarterly revenue came in slightly below the estimates, prompting brokers to reduce the target price for the stock. The share price of TENCENT edged down 6.5% this morning, to post at $342.
Other technology shares were likewise subdued. BABA-SW (09988.HK) last printed $85, down 5.6%. MEITUAN-W (03690.HK), XIAOMI-W (01810.HK), JD-SW (09618.HK) and KUAISHOU-W (01024.HK) likewise cascaded 4.1-4.3%.
AAStocks Financial News
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