Alibaba, Tencent lead tech slump in Hong Kong amid longest losing streak since July on China slowdown, yuan depreciation


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Hong Kong stocks fell for a fifth day, the longest losing streak in two months, before a government report showing China’s exports slowed in August. The yuan, at two-year low, is also eroding the appeal of Chinese assets. The Hang Seng index tumbled 1.2 per cent at 18,977.61 as at 10.29am local time, the lowest since the market plunged in mid-march. The Tech index retreated 1.7 per cent, while the Shanghai Composite Index added 0.2 per cent. Tencent Holdings lost 1.8 per cent to HK$308.60 while Alibaba Group Holding stumbled 1.4 per cent to HK$86.85. Food-delivery platform operator Meituan lost...