Hong Kong Market falls 0.22%

Hong Kong share market finished session lower on Tuesday, 14 May 2024, snapping three days winning streak, as some investors opted to book recent gains on caution ahead of US inflation report later this week that will determine when the Federal Reserve will cut interest rates. Meanwhile, reports of fresh U.S. tariffs on China this week and China's weak credit growth data for April also weighed down investor confidence.

At closing bell, the benchmark Hang Seng Index declined 41.35 points, or 0.22%, to 19,073.71. The Hang Seng China Enterprises Index fell 20.23 points, or 0.3%, to 6,741.41.

Among bluechip stocks, Macau casino operator Galaxy Entertainment dropped 3.9% to HK$36.80 and peer Sands China weakened 2.2% to HK$20.45 while EV maker Li Auto lost 2.4% to HK$102.50. Hang Lung Properties declined 3.6% to HK$7.98 and New World Development fell 2.5% to HK$9.12.

 

Food delivery platform operator Meituan weakened 0.3% to HK$121.90 and JD.com dropped 0.2% to HK$129.10, while search-engine operator Baidu strengthened 1.7% to HK$109.20

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