HK stocks see three-year peak slip from grasp

Hong Kong stocks failed to extend Wednesday’s gains and dipped 0.29 percent, despite a peak once tipping 24,000 points-level.

The benchmark Hang Seng Index once hit 24,076 points before slipping to a low of 23,441 on Thursday. The blue-chip index rebounded in the afternoon session and closed 69 points down at 23,718 points.

The main board turnover gained nearly 10 percent to HK$406.47 billion from Wednesday’s HK$370.13 billion.

The Hang Seng Tech Index lost 1.22 percent, closing at 5,881 points.

Xiaomi (1810) once lost nearly 9 percent, sliding to HK$51.40 and ultimately recovering to HK$53.10 ahead of its new product launch event, making it the worst performing blue chip.

Hotpot chain Haidilao International (6862) was the best performing blue-chip stock, climbing 6.8 percent.

Mainland electric vehicle shares rose. Nio (9866) and XPeng (9868) both gained 6 percent while BYD (1211) increased 2.26 percent.

In the mainland, the Shanghai Composite Index stood at 3,388 points, up by 0.23 percent, while the Shenzhen Component Index lost 0.26 percent, closing at 10,927.

STAFF REPORTER