[ET Net News Agency, 10 July 2020] HK stocks closed sharply lower on Friday on worries
of the second wave outbreak of coronavirus. The benchmark index opened down 278 points at
25,931 and briefly narrowed its losses to 72 points to the day high of 26,137. It saw
renewed selling and fell 639 points in the afternoon trade, hitting the day low of 25,570.
The Hang Seng Index ended down 482 points or 1.8% to 25,727. The H-share index fell 240
points or 2.2% to 10,541. Turnover decreased to HK$194.6 billion from HK$206.8 billion on
Thursday.
Blue chips fell across the board. HSBC (00005) dipped 1.9% to HK$36.4. HKEX (00388)
slipped 1.8% to HK$363.8. Tencent (00700) slid 2.9% to HK$546.5. China Mobile (00941) shed
2.7% to HK$54.9. AIA Group (01299) declined by 1.8% to HK$75.1.
New economy stocks were mixed after an executive from the HSI Company disclosed that the
benchmark index compiler may soon launch the FANG-like index in HK. Alibaba Group (09988)
dipped 2.4% to HK$255.4. NetEase Inc (09999) fell 1.3% to HK$152.5. Meituan Dianping
(03690) edged down 0.8% to HK$208.2. Xiaomi Corporation (01810) inched up 0.2% to
HK$16.88. (KL)