Hang Seng drops by 272 points

Finance | 30 Jul 2021 9:52 am

Hong Kong stocks are on the back foot Friday morning following the previous day's rally of more than 3 percent, with investors continuing to fret over China's latest regulatory crackdown on a range of industries.

The benchmark Hang Seng Index has given up 272.48 points, or 1.04 percent at 25,981.29.

Meituan (3690) is down by 4.29 percent at HK$218.60. Alibaba Group (9988) is down by 4.56 percent at HK$188.30.

At the open, the HSI lost 1.04 percent, or 272.48 points, at 26,042.84.

In the mainland benchmark Shanghai Composite Index eased 0.40 percent, or 13.53 points, to 3,398.20, while the Shenzhen Composite Index on China's second exchange shed 0.14 percent, or 3.30 points, to 2,380.88.



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