Tencent, AIA drag Hong Kong stocks lower on index rebalancing as BYD and two new members surge

//Tencent, AIA drag Hong Kong stocks lower on index rebalancing as BYD and two new members surge

Tencent, AIA drag Hong Kong stocks lower on index rebalancing as BYD and two new members surge

Hong Kong stocks slipped in early trading after the biggest index overhaul of the city’s stock benchmark reduced the weighting of top-tier AIA Group, Tencent Holdings and HSBC. Three new joiners advanced.The Hang Seng Index slipped 0.5 per cent to 28,328.08 at 9.45am local time, after its first weekly gain in four. Tencent retreated 1.6 per cent to HK$577.50, while AIA slipped 0.5 per cent to HK$101.20. HSBC was little changed at HK$48.60.The index compiler, Hang Seng Indexes Company, will add…

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By | 2021-05-24T02:42:28+00:00 May 24th, 2021|Business|Comments Off on Tencent, AIA drag Hong Kong stocks lower on index rebalancing as BYD and two new members surge