Hong Kong Market ends 1.27% down

Hong Kong share market finished session lower on Thursday, 08 February 2024, extending yesterdays losses, after Chinas consumer and producer prices data raised concerns about deflationary pressures and suggested the economic slowdown may have further to run.

At closing bell, the benchmark Hang Seng Index dropped 203.82 points, or 1.27%, to 15,878.07. The Hang Seng China Enterprises Index fell 61.45 points, or 1.13%, to 5,360.08.

Among blue chips, Alibaba Group tumbled 6.1% to HK$70.30 after both earnings and revenue in the December quarter fell short of market expectation. Its e-commerce rival JD.com slipped 2.6% to HK$88. Tencent lost 1.7% to HK$287.20 and WuXi Biologics tumbled 7.6% to HK$17.72, giving up some of the surge on Wednesday.

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