Hang Seng Index fell on market open, Kuaishou drops 6 percent, and Tencent rose 1.5 percent

Hang Seng Index fell on Tuesday at the market open after rising for three consecutive trading days.

The benchmark Hang Seng Index slid 0.2 percent, or 47 points, to 23,568 points.

Tech gauge also slid 0.4 percent to 4,524 points.

Kuaishou (1024) fell 6 percent at the open, becoming the worst-performing blue chip, while Tencent (0700) rose 1.5 percent after announcing it would sell Kuaishou shares on Monday.

Other tech heavyweights, Alibaba (9988), Meituan (3690), and Baidu (9888), rose 0.2 percent, 0.7 percent, and 1.2 percent, respectively.

Chip stocks opened lower. Semiconductor Manufacturing International Corporation (0981) slid 0.9 percent, and Hua Hong Grace Semiconductor (1347) fell 2.2 percent.

HSBC (0005) went up by 0.7 percent, Hong Kong Exchanges and Clearing (0388) fell 0.3 percent, and AIA (1299) fell 0.5 percent.

Shenzhou International (2313) was the best-performing blue-chip, rising 2 percent.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓