The Business Times

Hong Kong stocks take a hit as Alibaba plunges

    • The Hang Seng Index dived 2.12 per cent, or 378.63 points, to 17,454.19, dragged down by a 10 per cent drop in the Chinese e-commerce titan.
    • The Hang Seng Index dived 2.12 per cent, or 378.63 points, to 17,454.19, dragged down by a 10 per cent drop in the Chinese e-commerce titan. PHOTO: REUTERS
    Published Fri, Nov 17, 2023 · 04:24 PM

    HONG Kong stocks tumbled on Friday (Nov17) as market heavyweight Alibaba was hammered after saying it would call off a planned spinoff of its cloud computing business.

    The Hang Seng Index dived 2.12 per cent, or 378.63 points, to 17,454.19, dragged down by a 10 per cent drop in the Chinese e-commerce titan.

    The Shanghai Composite Index added 0.11 per cent, or 3.44 points, to 3,054.37, and the Shenzhen Composite Index on China’s second exchange gained 0.44 per cent, or 8.50 points, to 1,923.96. AFP

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    Hong Kong stocksAlibabaHang Seng IndexCloud computing

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