Hang Seng Index falls more than 500 points this afternoon


30th January 2023 – (Hong Kong) Hang Seng Index fell as low as 22,138.32 at 2.53pm, a drop of 2.43% The state-owned enterprise index fell 240 points; the technology index fell nearly 200 points. The turnover on the Main Board was nearly HK$140 billion. The selling pressure on large technology and internet stocks continued. Alibaba fell nearly 7%, Tencent breached the HK$390 support level, temporarily fell 6.4%; Jingdong Group fell 4.7%, Kuaishou fell 4.3%, Xiaomi Group fell 4.1%;, NetEase fell 1.6% and Meituan tumbled 0.8%.