Hong Kong: Market falls 0.12%; tech stocks drags

Hong Kong stock market finished session down on Wednesday, 08 September 2021, following weak lead from Mainland A-share market, with shares of technology stocks being notable losers as investors opted to secure recent gains.

At closing bell, the benchmark Hang Seng Index fell 0.12%, or 32.70 points, to 26,320.93. The Hang Seng China Enterprises Index dropped 0.2%, or 18.83 points, to 9,449.39.

The Mainland China share market closed lower on Wednesday, 08 September 2021, snapping a two-day rally, as remarks from a senior official at China's central bank dampened market expectations for imminent policy easing measures. Sun Guofeng, head of the monetary policy department at the People's Bank of China (PBOC), said there was no big shortfall of base money, and liquidity supply and demand would remain basically balanced in coming months.

Shares of Chinese technology firms declined on profit booking, after recent strong rally. Hua Hong Semiconductor led losses with a 6.9 per cent plunge as a major state-backed semiconductor fund cut its holding by 1.07 million shares. Industry peer SMIC lost 2.3 per cent.

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