HK stocks slip as mainland tech gains lose steam
Mainland stocks gave up gains earlier in the day to close at a 14-month low on Tuesday, with tech shares resuming their decline after a brief rise on an uptick in sentiment in the region. In Hong Kong, the benchmark Hang Seng Index fell 170 points, or 0.7 percent, to 23,041 on turnover of HK$178.35 billion. The tech index was down 57 points, or 1.5 percent, at 3,800 while the China enterprises index slipped 35 points, or 0.5 percent, to 7,766. Up north, the Shanghai Composite Index closed down 49 points, or 1.33 percent, at 3,648 on turnover of 672.4 billion yuan while the blue-chip CSI300 Index was also 1.3 percent lower. The Shenzhen Component Index fell 288 points, or 2.5 percent, to close at 11,245 on turnover of 788.5 billion yuan while the ChiNext Index dived 90 points, or 3.41 percent, to 2,548 on turnover of 381.58 billion yuan. Shanghai's tech-focused Star50 index slumped 4.8 percent to the lowest since March. The selloff in Chinese AI-related shares, however, continued, with the CSI Semiconductor Index down 5.8 percent at a fresh six-month low and the CSI AI Index down nearly four percent. "The market may stage a short-term rebound after the recent selloff, but a more sustained...
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