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Tech stocks drag Hang Seng China Enterprises Index toward bear market

Moomoo News · Jul 8, 2021 02:46 · Markets

Hang Seng Index +2.12% Hang Seng China Enterprises Index +2.44% Hang Seng TECH Index +4.61%

A key gauge of Chinese stocks traded in Hong Kong is nearing a bear market.

The $Hang Seng China Enterprises Index(800100.HK)$ tumbled by as much as 2.9% on Thursday, extending its loss since a February high to about 19%. The gauge was dragged down by some of the biggest internet names including $Meituan-W(03690.HK)$, $BABA-SW(09988.HK)$ and $Tencent(00700.HK)$, which were down by at least 3.6%.

Source: Bloomberg

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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