An urban view of high-rise buildings at dusk as seen from Hong Kong’s Victoria Peak.
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Hong Kong’s Hang Seng Index experienced a significant decline of over 3% on Tuesday, primarily due to the decline in the real estate and energy sectors.
According to Everbright Securities’ Kenny Ng, the index lost more than 500 points, which was driven by profit-taking following a 400-point rise on Friday. Additionally, the US dollar index remained relatively strong, exerting downward pressure on the Hong Kong stock market.
After a holiday on Monday, the index is currently trading down by 3.16%.
Ng highlights that property stocks were among the largest decliners on Tuesday, likely due to the high-interest environment.
Hang Seng Index drops
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