All but three out the 82 index members dropped. Tencent tumbled 3.3 per cent to HK$262.20, Meituan lost 4.7 per cent to HK$65.40 and Baidu dropped 3.6 per cent to HK$95.60, leading steep declines among Chinese tech leaders. China Resources Land crashed 11 per cent to HK$20.50, and peer Longfor retreated 10 per cent to HK$7.92.
Electric-car maker BYD slipped 2.4 per cent to HK$190.90, while Li Auto slid 5 per cent to HK$104.70. Among financial companies, insurer AIA lost 2.2 per cent to HK$59.10 and HSBC weakened 0.3 per cent to HK$58.50.
China’s one-year loan prime rate stood at 3.45 per cent at the monthly setting, the People’s Bank of China (PBOC) said on Monday, unchanged since August last year. The five-year rate, a benchmark for mortgage financing, stayed at 4.2 per cent,…
