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Alibaba sinks to record low while mainland China funds flee from tech sell-off in HK

November 24, 2021
Source: intellasia.net intellasia.net
News Snapshot:
[Alibaba sinks to record low while mainland China funds flee from tech sell-off in HK] Hong Kong stocks slumped to the lowest level in six weeks as selling by mainland China funds accelerated following poor earnings from technology juggernauts. Alibaba Group Holding sank to an all-time low. The Hang Seng Index lost 1.2 per cent to 24,651.58 at the close of Tuesday trading, the lowest level since October 6. The Hang Seng Tech Index retreated 1.4 per cent, while the Shanghai Composite Index climbed 0.2 per cent. Mainland investors, who contribute to more than a fifth of daily transactions, have...
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