Hong Kong stocks see sharpest drop in two weeks amid Shanghai, Macau Covid-19 flare-ups, fines on Alibaba, Tencent, Bilibili


Source: scmp.com scmp.com

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Hong Kong stocks fell by the most in two weeks after Shanghai and Macau saw flare-ups in coronavirus cases, reigniting worries of restrictions weighing down growth. Casino stocks fell sharply, while Chinese tech stalwarts sank on penalties imposed by regulators. The Hang Seng Index retreated 2.4 per cent to 21,234.48 at 10am, adding to its 0.6 per cent decline last week. The Tech Index fell 3.2 per cent, while the Shanghai Composite Index slipped 1.2 per cent. Galaxy Entertainment lost 6 per cent to HK$44.80 and Sands China fell 7.8 per cent to HK$17.20. Tencent Holdings sank 2.8 per cent...