Hong Kong Stocks Fall Sharply After U.S. Losses

Hong Kong Stocks Fall Sharply After U.S. Losses
Fri, 10 Oct
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Insurer AIA Group Ltd. tumbled 2.4%, telecoms giant China Mobile Ltd. skidded 2.2%, online major Tencent Holdings Ltd. declined 1.6%, and Sino-British banking giant HSBC Holdings PLC slid 1.4%. Tech stocks took hard hit, with online game developer NetDragon Websoft, Inc. down 2.9% and rival Forgame Holdings off 2.4%, while software developer Kingdee International Software Group Co. Ltd. dropped 2.5%, and its domestic peer Kingsoft Corp. Ltd. declined 1.6%. 

Hong Kong cosmetics retailer Bonjour Holdings Ltd. gave up 1.9%, after its same-store sales in Hong Kong and Macau decreased about 16% from a year ago during the past seven-day Chinese National Day holiday, mainly affected by the ongoing pro-democracy protests in Hong Kong. Local rival Sa Sa International Holdings Ltd. fell even more, losing 2.3%. Jewelers also declined, as both Chow Tai Fook Jewellery Group Ltd. and Chow Sang Sang Holdings International Ltd.  pulled back 1.2%, and Luk Fook Holdings (International) Ltd. moved down 0.9%. Over on the Chinese mainland, the Shanghai Composite Index edged 0.2% lower.

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