Hong Kong stocks retreat from four-week high as tech falters and energy crunch seen derailing economic recovery


Source: scmp.com scmp.com

Key Topics in this News Article:

News Snapshot:

Hong Kong stocks retreated from a four-week high as tech leaders from Alibaba Group Holding to Meituan faltered amid concerns surging global energy prices will undermine economic revival efforts. The Hang Seng Index slipped 0.8 per cent to 25,123.88 in early Tuesday trading after reaching the highest level since September 14 on Monday. The Hang Seng Tech Index tumbled 1.7 per cent, giving up about half of advance a day earlier. The Shanghai Composite Index lost 0.6 per cent. Investors locked up gains from the swift rebound in Chinese tech stocks in recent days as valuations cheapened, underpinned also by...