Hong Kong Stocks slips on profit taking

Hong Kong stock market finished session on a negative note on Thursday, 27 May 2021, as profit taking pressure after benchmark indices rising for two consecutive days to its highest level since April 29.

At closing bell, the benchmark Hang Seng Index rose 0.88%, or 255.15 points, to 29,166.01. The Hang Seng China Enterprises Index added 0.58%, or 62.95 points, to 10,855.58.

The sub-index of the Hang Seng tracking the utilities sector added 0.19% and commerce & industry sector added 0.07%, while the finance sector fell 0.51% and the properties sector fell 0.13%.

Shares of Tencent Holdings was the worst performing blue chips in Hong Kong, falling 2% to HK$605.50, amid concerns that mainland Chinese regulators were ramping up a crackdown on fintech companies.

 

Shares of Xiaomi added 3.2% to HK$29.05, after smartphone maker first-quarter net profit grew 260.6% on the back of increased sales worldwide.

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