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Hong Kong shares decline as property, tech stocks weigh

Dow Jones Newswires · Jan 25, 2022 03:53 · Markets

Hang Seng Index +2.12% COUNTRY GARDEN +0.00% EVERGRANDE +0.00% BABA-SW +3.15% MEITUAN-W +3.68%

Hong Kong's $Hang Seng Index(800000.HK)$ closed 1.7% lower at 24243.61, weighed by broad declines across sectors ahead of the U.S. Federal Reserve meeting.

Property stocks were lower, with $SHK PPT(00016.HK)$ off 1.7% and $COUNTRY GARDEN(02007.HK)$ down 1.8%. $EVERGRANDE(03333.HK)$ fell 6.5% after saying it has started talks with offshore creditors.

Among tech shares, $BABA-SW(09988.HK)$ slipped 1.9% and $Meituan-W(03690.HK)$ fell 3.0%. $TENCENT(00700.HK)$ ended 0.6% lower after the company said it fired dozens of employees last year for violating its anticorruption policies.

(justina.lee@wsj.com)

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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