Hong Kong: Stocks close lower

HONG KONG stocks closed lower on Tuesday (May 24) over concerns about China's economy, as a new package of stimulus measures from Beijing did little to alleviate fears over the impact of its zero-Covid policy on growth.

The Hang Seng Index slumped 1.75 per cent, or 357.96 points, to 20,112.10, extending the previous day's losses.

The Shanghai Composite Index fell 2.41 per cent, or 75.93 points, to 3,070.93, while the Shenzhen Composite Index on China's second exchange slid 3.62 per cent, or 72.28 points, to 1,922.48. AFP