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Hong Kong's Hang Seng index slides 2.7% on worries over new variant

Dow Jones Newswires ·  Nov 26, 2021 03:40  · Markets

0826 GMT - Hong Kong's $Hang Seng Index(800000.HK)$ fell 2.7% to 24080.52, a seven-week low, with all but one of the index's 60 constituents ending lower, as worries about a new Covid variant in Africa led to a broad selloff in Asia. 

Top laggards were casino stocks, with $SANDS CHINA LTD(01928.HK)$ declining 7.2% and $GALAXY ENT(00027.HK)$ sliding 6.8%. $CATHAY PACIFIC AIR(CPCAY.US)$ lost 4.1% and $AIR CHINA(00753.HK)$ was 3.8% lower. 

$Alibaba Group(810016.HK)$ fell below HK$130 a share for the first time, finishing 4.7% lower. $TENCENT(00700.HK)$ lost 3.0% and $Meituan-W(03690.HK)$ shed 3.9% ahead of its earnings. 

(clarence.leong@wsj.com)

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