Hang Seng Down, Tencent a Major Market Weigh
The Hang Seng Index weakened 0.7% to 24,030.18 in Hong Kong trading on Thursday (July 9). This decline marked the biggest decline since June 26, when the index fell 1.8%, and came after the Hang Seng recorded a sharp 3% gain in the previous session.
The main pressure came from shares of Tencent Holdings Ltd., which was the largest contributor to the index's decline, falling 1.9%. Meanwhile, Laopu Gold Co. recorded the largest decline among index members, with a decline of 5.6%.
Overall, 66 of the 93 stocks in the Hang Seng Index weakened, while 26 others gained. Sectorally, three of the four sectors were in the red, led by weakening financial stocks.
Despite the correction, the Hang Seng still recorded a 2.9% gain for the week and a 4.2% gain in the past five days. In the past 52 weeks, the index has strengthened 0.6%, but remains 14.3% below its high on January 29, 2026. The total market capitalization of Hang Seng members is recorded at HK$28.9 trillion, with a dividend yield of 3.1% in the past 12 months. (asd)
Source: Newsmaker.id
