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Hong Kong share market finished session at three week-lows on Monday, 15 April 2024, pressured by risk-off selling amid fears of global economic instability from an escalating conflict in the Middle East and declines on Wall Street late last week.
Stocks were lower from the outset, amid concerns over heightened geopolitical tensions in the Middle East following Iran's retaliatory missile and drone attack against Israel over the weekend.
The mood remained defensive ahead of a slew of China’s economic data due to be released on Tuesday. A key set of economic data, including first quarter GDP, industrial production, March retail sales and employment rate will be released on Tuesday, which will provide clues about the recovery trajectory in the world’s second largest economy.
At closing bell, the benchmark Hang Seng Index dropped 121.23 points, or 0.72%, to 16,600.46. The Hang Seng China Enterprises Index dropped 23.14 points, or 0.39%, to 5,856.44.
Among blue chips, E-commerce group Alibaba Group slipped 1.7% to HK$70.45, peer JD.com declined 1.2% to HK$101.20, and Tencent retreated 1.6% to HK$304.60. EV maker Li Auto slumped 1.4% to HK$116.40 and Geely Auto lost 2.1% to HK$9.26.
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