Hong Kong shares extended their losses at market close, weighed down by tech and financial heavyweights, with Lenovo (0992) down nearly 10 percent and the UK reportedly planning to levy a tax on banks.
The benchmark Hang Seng Index shed 319 points, or 1.32 percent, to 23,867 points, with full-day market turnover at HK$190 billion. The tech gauge dipped 1.52 percent to 4,045 points.
UK Chancellor of the Exchequer John Healey plans to levy a tax on banks in his first budget to be announced on October 28, foreign media reported, using the proceeds to fund a temporary cost-of-living support program for specific groups. Shares of UK-headquartered banks HSBC (0005) and Standard Chartered (2888) fell 3.34 percent and 4.29 percent, respectively, on the news.
HSBC will hold a board committee meeting next Tuesday to review the announcement of its third-quarter 2026 earnings and whether to pay a third interim dividend on its ordinary shares for 2026.
Amid recent broader global tech sell-offs, tech heavyweights continued their losses, with Lenovo plunging 9.98 percent as the worst-performing blue chip. CATL (3750) sank 6.58 percent ahead of its third-quarter earnings report today, and Pop Mart (9992) declined 4 percent. Other tech majors such as Alibaba (9988) and Tencent (0700) fell 3.58 percent and 1.77 percent, respectively.
Meanwhile, biopharma share Hansoh Pharmaceutical (3692) advanced 8.32 percent, closing as the best-performing blue chip. WuXi Biologics (2269) and JD Health (6618) also rose 3.84 percent and 3.22 percent, respectively.
In the mainland, the Shanghai Stock Exchange Composite Index rose 4.45 points, or 0.12 percent, to 3,735 points, while the Shenzhen Stock Exchange Composite Index slipped 0.14 percent to 11,801 points.
