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Hong Kong shares drop 3%, dragged down by real estate and energy - TL;DR CNBC

Hong Kong shares drop 3%, dragged down by real estate and energy

Publishing timestamp: 2023-10-03 00:12:06


Summary

The Hang Seng Index in Hong Kong dropped over 3% due to declines in the real estate and energy sectors. Property stocks were among the largest decliners, and the high-interest environment and a strong US dollar exerted downward pressure on the stock market. The Chinese property market has also been struggling, with companies like Evergrande and Country Garden facing debt problems. Energy stocks also posted losses.


Sentiment: NEGATIVE

Tickers: 857-HK386-HK3333-HK.HSI.DXY2007-HK17-HK960-HK

Keywords: petrochina co ltdhang seng indexchina petroleum & chemical corplongfor group holdings ltdasia economybusiness newsnew world development co ltdreal estatedxy us dollar currency index

Source: https://www.cnbc.com/2023/10/03/hong-kong-stocks-fall-dragged-down-by-real-estate-and-energy.html


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