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Hong Kong: Stocks down as HSBC reports profit drop

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Hong Kong stocks closed lower Tuesday, reversing early gains as HSBC reported a plunge in its net profits for 2016.

[HONG KONG] Hong Kong stocks closed lower Tuesday, reversing early gains as HSBC reported a plunge in its net profits for 2016.

The Hang Seng Index fell 0.76 per cent, or 182.45 points, to 23,963.63.

But the benchmark Shanghai Composite Index added 0.41 per cent, or 13.37 points, to close at 3,253.33, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.95 per cent, or 18.61 points, to close at 1,981.14.

AFP

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