March 25, 2025 at 05:01 am EDT
(MT Newswires) -- Hong Kong stocks fell on Tuesday after a sell-off of tech stocks, which led gains in the previous day.
The Hang Seng Index slid 2.35%, or 561.31 points, to end at 23,344.25. The Hang Seng China Enterprises Index fell 2.65%, or 234.64 points, to finish at 8,616.05.
The local equities market ended the session lower on profit-taking following yesterday's tech rally.
"Expecting volatility ahead, skittish investors chose to cash out to lock up their gains," Ivan Li, a fund manager at Loyal Wealth Management in Shanghai, was quoted by South China Morning Post as saying.
Alibaba Groupand Meituan both experienced a 4% drop, while Tencent saw a 2% decline.
In corporate news, Xiaomi's shares closed 6% lower after it shared plans to raise HK$42.5 billion from a top-up placement.
The tech heavyweight plans to fund the expansion of its car-making business with the proceeds.
Meanwhile, aluminum alloy manufacturer Nanshan Aluminium Internationalfell on its trading debut. It closed at HK$25.25 per share, down over 5% from its IPO price of HK$26.60.

Sumber : MT Newswires