HK stocks slide, Tiangong tumbles on share placement

Business | 5 May 2021 9:36 am

Stocks have tumbled in Hong Kong Wednesday after sentiment soured from a Big Tech sell-of on Wall Street overnight.

The benchmark Hang Seng Index dropped to 28,377.17, down by 179.97 points, or 0.63 percent. 

Tiangong International (0826) has sunk by 11.89 percent at HK$4.30. Tencent (0700) shed more than 1 percent at HK$615.50.

Tiangong said it is placing  200 million shares  at HK$4.22 per share.

The Hang Seng Tech Index has skidded by more than 1.3 percent at 8,170.69.

 



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