Hong Kong Market drop 1% on soft offshore lead

The Hong Kong stock market finished session down on Wednesday, 25 April 2018, on tracking soft lead from Wall Street overnight. Wall Street on Tuesday met with heavy selling induced by worries about a possible earnings slowdown at some major U.S. companies and a rise in U.S. long-term interest rates stemming from inflation concerns. Among Hang Seng issues, technology firms extended losses following another painful day for their US counterparts. The Hang Seng Index shed 1.01%, or 308.09 points, to close at 30,328.15. The sub-index of the Hang Seng tracking energy shares dipped 0.9%, the IT sector lost 2.14%, the financial sector was 0.71% lower and the property sector fell 0.62% . Turnover increased slightly to HK$98.1 billion from HK$97.5 billion on Tuesday. Among the 50 blue chips, 10 stocks rose while 38 fell, with two stocks remaining steady.

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