Hang Seng Falls for Third Day; Tencent Weighs on Index
The Hang Seng Index weakened again during Thursday's trading (August 13), marking its third consecutive day of decline. The index fell 0.2%—or approximately 43.66 points—to close at 25,396.51, its lowest closing level since July 28.
The heaviest pressure came from Tencent Holdings, which slumped 4.5% and served as the primary driver of the index's decline. China Hongqiao Group recorded the sharpest drop, correcting by around 7.1%, while the trading and industrial sectors were the biggest drags on the market.
Overall, 57 of the 93 Hang Seng constituent stocks closed lower, while 33 advanced. This broad-based weakness indicates that investor sentiment remains cautious; pressure on large-cap stocks is making it difficult for the Hang Seng to break out of its short-term correction trend.
Source: Newsmaker.id