Ping An, Anta drag Hong Kong stocks to 3-month low as poor earnings season, recession fears undermine China stimulus bets


Source: scmp.com scmp.com

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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 0.7 per cent to 19,521.01 at 10.36am local time, a level not seen since May 12. The Tech Index dropped 0.1 per cent and the Shanghai Composite Index retreated 0.4 per cent. Companies slated to report their earnings on Tuesday weakened, with Ping An Insurance dropping 2.1 per cent to HK$42.60 and Anta Sports retreating 0.7 per cent to HK$87.85. Li Ning slumped 1.5 per cent...