Hang Seng tumbles by 550 points, Alibaba Group slides by 3pc

Stocks are tumbling in Hong Kong following overnight losses on Wall Street.

The benchmark Hang Seng Index has sunk to 28,584.53, down by 551.20 points, or 1.89 percent. 

The Hang Seng Tech Index has tumbled by 2.04 percent at 8,142.11.

Alibaba Group (9988) has shed more than 3 percent at HK$221.20. Tencent (0700) is down by 2.17 percent at HK$609.00.

JD.com (9618) has given up 4.2 percent at HK$285.40.

Pan-Asian insurer AIA Group  (1299) has lost 2.45 percent at HK$95.65. Meituan (3690) has fallen by 2.86 percent at HK$285.20.

Shares in Anta Sports (2020) have slumped by more than 7 percent at HK$132.20.

Mainland blue chips are steady. The CSI 300 Index is at 5,072.79, lower by 0.21 percent.