Hong Kong Market drifts lower in see-saw trade

Hong Kong stock market finished edge down in see-saw trading on Tuesday, 27 April 2021, on following the mixed cues overnight from Wall Street on caution ahead of a U.S. Federal Reserve meeting. Market sentiments were also subdued amid concerns that the surge in coronavirus cases in the region, mainly in India and Japan, and the possible lockdowns in several markets, impacting the pace of global economic recovery from the pandemic.

At closing bell, the benchmark Hang Seng Index edged down 0.04%, or 11.29 points, to 28,941.54. The Hang Seng China Enterprises Index edged up 0.02%, or 2.15 points, to 10,983.46.

 

Meituan, China's biggest on-demand delivery service provider, finished 2.6% higher at HK$313, reversing an intraday loss of as much as 2.8%, as Beijing's antitrust probe into the company came within the market expectations.

Wuxi Biologics slumped 6% to HK$107.90 after the biggest shareholder sold 108 million shares in the company in a block trade for US$1.5 billion.

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