Hong Kong Market falls 0.68%

Hong Kong share market finished session lower on Monday, 17 January 2022, bucking the regional trend, as Covid-19 worries and concerns that the Federal Reserve will raise interest rates in the near future to tackle inflation overshadowed better than expected Chinese GDP data.

At closing bell, the benchmark Hang Seng Index declined 0.68%, or 165.29 points, to 24,218.03. The Hang Seng China Enterprises Index sank 1.06%, or 90.91 points, to 8,463.88.

Shares of tech companies declined, with Alibaba Group Holding, Tencent Holdings and JD.com led tech peers lower after a government report showed China's economy cooled further last quarter.

Shares of Macau casino operators extended a rally following a regulatory boost. Macau proposed on Friday to allow six operators in the industry while shortening their concessions by half under the city's biggest reform in two decades. Sands China soared 14.6% and Galaxy Entertainment jumped 7%. MGM China gained 11.7%, while Melco International and SJM Holdings rose at least 4.8%.

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