Hong Kong stocks fell on Thursday, as a tech-driven rally took a breather after sending key benchmarks to multi-year highs.
The Hang Seng Index retreated from its highest level in three years, falling 0.3 per cent to 23,718.29 at the close. The Hang Seng Tech Index shed 1.2 per cent after briefly rising above the 6,000-point mark on Wednesday for the first time since December 2021.
On the mainland, the CSI 300 Index and the Shanghai Composite Index both rose 0.2 per cent. The tech-heavy Star Market 50 Index slipped 0.1 per cent.
Alibaba Group Holding, owner of the Post, lost 0.9 per cent to HK$135.70 and Tencent Holdings slid 1.2 per cent to HK$495.40. Meituan sank 0.8 per cent to HK$172.80, while smartphone maker Xiaomi tumbled 5.7 per cent to HK$53.10. Hong Kong Exchanges and Clearing, the operator of the city’s bourse, rose 1.1 per cent to HK$365 after reporting a record annual profit that slightly beat consensus estimates.
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