Hang Seng Index Drops 3.3%; Alibaba Leads Declines
The Hang Seng Index fell for a second day, dropping 3.3%, or 776.97, to 22,941.32 in Hong Kong. It was the biggest decline since dropping 3.7% on Oct. 15.
Alibaba Group Holding Ltd. contributed the most to the index’s decline, dropping 6.0%. BYD Electronic International Co. was the biggest decliner, dropping 10.5%.
Today, 77 of 83 stocks fell, while 6 rose; all sectors fell, led by trade and industrial stocks.
Source: Bloomberg