Losses for Hang Seng at midday, Meituan drops by 10pc

Tuesday, July 27, 2021

Stocks went into the midday break in Hong Kong with more losses Tuesday, having plunged by more than 4 percent the day before, but investors continue to fret over China's crackdown on the country's tutorial sector and tech companies.

The benchmark Hang Seng Index is at 25,922.83, down by 269.49 points, or 1.03 percent.

At the open, the index gained by 0.21 percent, or 56.26 points, to 26,248.58.

Meituan (3690), which plumbed new lows on Monday, is down by 10.02 percent at HK$212.00,   while Tencent (0700) gave up 4.82 percent at HK$466.40. Baidu (9888) fell by 3.31 percent

The Hang Seng Tech Index is down at  6,575.69, lower by 3.17 percent.

In mainland China, the Shanghai Stock Exchange Composite Index inched up by 0.14 percent at 3,472.40, and the Shenzhen Stock Exchange Composite Index was up just 0.04 percent at 2,412.77.