Hong Kong stocks drop as Macau casino operators weaken on earnings pressure while Alibaba drags tech lower


Source: scmp.com scmp.com

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Hong Kong stocks retreated from a one-week high as Apple parts suppliers in mainland China and Macau casino operators suffered from poorer earnings outlook. The Hang Seng Index slipped 1.2 per cent to 20,587.01 at the local noon trading break, after surging 2.7 per cent on Monday in the biggest gain in six weeks. The Hang Seng Tech Index declined 1.7 per cent to 4,495.57 while the Shanghai Composite Index retreated 0.3 per cent to 3,268.52. AAC Technologies and Sunny Optical tumbled 3.1 and 3.2 per cent, to HK$15.52 and HK$107.60, respectively while Luxshare Precision slid 1.9 per cent to...