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greynaldum
2024-10-08

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China Rally Loses Steam as Authorities Disappoint Markets; Hong Kong Stocks Plunge More Than 10%

Hong Kong stocks opened lower on Tuesday. The Hang Seng Index fell 1.1%, the Hang Seng Tech Index fell 1.7%.Tencent fell 1.3%; Alibaba and NIO fell 2.9%; Meituan fell 3.9%; JD.com fell 6.9%; Baidu fell 2.3%; SMIC rose 6.6%.

China Rally Loses Steam as Authorities Disappoint Markets; Hong Kong Stocks Plunge More Than 10%

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In terms of individual stocks, Bilibili fell 20%; Meituan fell 16%; Li Auto fell 15%; NIO, XPeng, JD.com fell 14%; Alibaba fell 10%; Tencent fell 7%.</p><p></p><p><img src=\"https://community-static.tradeup.com/news/a05cb9ed72d959d7b370fdc88d772225\" alt=\"\"/></p><p style=\"text-align: start;\">While mainland China’s CSI 300 skyrocketed over 10% at the open Tuesday in its return from the Golden Week holiday, the index pared gains to a 5% rise later in the session. </p><p></p><p></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09618":"京东集团-SW","09888":"百度集团-SW","09988":"阿里巴巴-W","HSTECH":"恒生科技指数","03690":"美团-W","09626":"哔哩哔哩-W","HSCEI":"国企指数","00700":"腾讯控股","09866":"蔚来-SW","HSI":"恒生指数"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132489682","content_text":"The rally in Chinese markets lost steam on Tuesday after a briefing from the country’s National Development and Reform Commission provided few details on further stimulus. 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