Hong Kong stocks pare weekly gain before benchmark index review as Tencent, AIA pace losses | South China Morning Post

Hong Kong stocks dropped for a second day, trimming a weekly advance, as traders await potential changes to the key benchmark index at its upcoming rebalancing exercise. Gains in technology stocks tempered losses. The Hang Seng Index retreated 0.5 per cent to 28,305.07 as of 10.30am local time. The Shanghai Composite Index fell for a third day, losing 0.7 per cent to 3,483.85. The Hang Seng Tech Index rose for a fourth day, handing investors a 5.1 per cent gain for the week, on speculation more from the industry will join the benchmark. Financial stocks dragged the market lower on…