Hong Kong Markets falls on profit taking

Hong Kong share market finished session lower on Friday, 24 March 2023, as profit booking resumed amid jittery over the U.S. and European financial systems following turmoil in the banking sector. Meanwhile, fresh diplomatic and trade tensions with Washington weighed on sentiment.

At closing bell, the benchmark Hang Seng Index fell 133.96 points, or 0.67%, to 19,915. The Hang Seng China Enterprises Index declined 41.66 points, or 0.61%, to 6,794.80.

Among blue chips, HSBC tumbled 2.9% to HK$52.15, while Bank of China (Hong Kong) eased 1.4% to HK$25.15. Country Garden dropped 3.4% to HK$2.24, and China Resources Land weakened 1.3% to HK$35.40. Alibaba Group Holding dropped 1% to HK$85.30, and Wuxi Biologics lost 3.6% to HK$48.90.

 

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