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07/10/2026 10:25

Alibaba down nearly 5%, Tencent drops 2%, tech stocks under pressure before northbound trading resumes

   Tech stocks under pressure, Alibaba (09988) down 4.9%, at HK$102.9; Tencent (00700) down 1.6%, at HK$421.4; Kuaishou (01024) down 1.9%, at HK$29.6; Meituan (03690) down 1.1%, at HK$70.05.

  Today is the last day of mainland China's National Day holiday, with northbound trading resuming tomorrow. However, tech stocks are under pressure ahead of the resumption. The software and services sector, representing tech stocks, is currently seeing a net outflow of approximately HK$340 million, with an active buy/sell ratio of 47:53. The Hang Seng Tech Index stands at 4157, down 65 points or 1.6%.

  Currently, the Hang Seng Index is at 24076, down 204 points or 0.8%, with main board turnover exceeding HK$33.5 billion. The Hang Seng China Enterprises Index is at 8049, down 79 points or 1%. (am)
 
Table showing performance of related stocks in the same sector
Stock (Code)Current Price (HK$)Change (%)
Alibaba (09988)102.9Down 4.9%
Tencent (00700)421.4Down 1.59%
Kuaishou (01024)29.6Down 1.92%
Meituan (03690)70.05Down 1.06%
Xiaomi (01810)23.74Down 2.14%
Bilibili (09626)114.7Down 1.04%
NetEase (09999)186.7Up 0.59%
Jd.com (09618)103.9Up 0.29%
Baidu (09888)83.75Down 2.79%
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