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-HK, 386-HK, 3333-HK, .HSI, .DXY, 2007-HK, 17-HK, 960-HK,
Keywords: petrochina co ltd, hang seng index, china petroleum & chemical corp, longfor group holdings ltd, asia economy, business news, new world development co ltd, real estate, dxy us dollar currency index,
Source: https://www.cnbc.com/2023/10/03/hong-kong-stocks-fall-dragged-down-by-real-estate-and-energy.html