Ping An, Alibaba drag Hang Seng Index to 3-month low as poor earnings season, recession fears overcome China bets


Source: scmp.com scmp.com

Key Topics in this News Article:

News Snapshot:

Hong Kong stocks slipped to the lowest level in more than three months, tracking overnight losses in US equities, while markets struggled with uninspiring domestic corporate earnings so far. The Hang Seng Index fell 0.6 per cent to 19,539.04 at 11.15amlocal time, a level not seen since May 12. The Tech Index dropped 0.1 per cent and the Shanghai Composite Index retreated 0.2 per cent. Companies slated to report their earnings on Tuesday weakened, with Ping An Insurance dropping 1.5 per cent to HK$42.85 and Henderson Land retreating 0.5 per cent to HK$27.55. Alibaba Group Holding fell 0.7 per cent...