Hong Kong: Stocks end sharply lower as Alibaba collapses

[HONG KONG] Hong Kong stocks suffered a second day of hefty losses on Friday as it was dragged by a plunge in market heavyweight Alibaba after the ecommerce giant warned on its revenue outlook and said profit collapsed in the second quarter.

The Hang Seng Index tumbled 1.07 per cent or 269.75 points to 25,049.97. Alibaba dived 10.71 per cent.

The Shanghai Composite Index added 1.13 per cent or 39.66 points to 3,560.37 while the Shenzhen Composite Index on China's second exchange climbed 1.20 percent or 29.41 points to 2,490.27.

AFP