Hong Kong stocks tumble as Tencent sinks

The Hang Seng Index fell 1.60 per cent, or 398.96 points, to 24,531.62. — AFP pic
The Hang Seng Index fell 1.60 per cent, or 398.96 points, to 24,531.62. — AFP pic

HONG KONG, Aug 7 — Hong Kong stocks finished sharply lower today, with market heavyweight Tencent battered by President Donald Trump’s decision to ban Americans from doing business with the platform, clouding its outlook.

The Hang Seng Index fell 1.60 per cent, or 398.96 points, to 24,531.62.

The benchmark Shanghai Composite Index sank 0.96 per cent, or 32.43 points, to 3,354.04, while the Shenzhen Composite Index on China’s second exchange dropped 1.38 per cent, or 31.86 points to 2,272.66. — AFP

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