Hong Kong stocks fell on Thursday after touching a level not seen in almost four years, as investors parsed a slew of corporate results for clues on whether earnings are strong enough to power the rally ahead.
The Hang Seng Index dropped 0.4 per cent to 25,519.32 at the close. The gauge rose by as much as 0.6 per cent in morning trading, briefly hitting its highest level since November 16, 2021.
The Hang Seng Tech Index slid 1 per cent. On the mainland, the CSI 300 Index slipped 0.1 per cent and the Shanghai Composite Index sank 0.5 per cent.
Power Assets Holdings shed 2.7 per cent to HK$51.45 and CK Infrastructure Holdings dropped 1.5 per cent to HK$54.30 after both companies posted sluggish profit growth in the first half. Alibaba Group Holding retreated 1.5 per cent to HK$121.80 and peer JD.com declined 1.8 per cent to HK$125.10 after a filing showed that the world’s biggest hedge fund, Bridgewater Associates, liquidated its…
