Aug 21, 2024 at 5:29 am GMT
SHANGHAI (Reuters) -Hong Kong stocks dropped on Wednesday, as shares of e-commerce giant JD.com tumbled after its biggest shareholder Walmart sold its stake in the firm, while China stocks edged down.
** Walmart WMT.N is seeking to raise up to $3.74 billion by selling its stake in Chinese e-commerce firm JD.com 9618.HK, according to a term sheet seen by Reuters, as the U.S. retailer focuses on its own operations in China.
** JD.com tumbled, down 10.2% by midday, and dragged tech shares .HSTECH down 2.1% in Hong Kong.
** Electric vehicle maker Xpeng 9868.HK fell 2.4% after it forecast third-quarter revenue below analysts' expectations and missed June-quarter sales estimates.
** Video game and related concept stocks jumped, with Citi Press 300788.SZ up 5.5%, after a new video game title launched on Tuesday by a Tencent-backed 0700.HK startup become the most-played game on a major online platform.
** At the midday break, the Shanghai Composite index . SSEC was down 0.39% at 2,855.35 points.
** China's blue-chip CSI300 index .CSI300 was down 0.1%, with its financial sector sub-index .CSI300FS lower by 0.58%, the consumer staples sector .CSI000912 falling 0.1%, the real estate index .CSI000952 down 1.38% and the healthcare sub-index .CSI300HC down 0.22%.
** Chinese H-shares listed in Hong Kong . HSCE fell 1.2% to 6,121.49. The Hang Seng Index .HSI was down 0.95% at 17,345.53.
** The smaller Shenzhen index . SZSC was up 0.08%, the start-up board ChiNext Composite index .CNT was unchanged and Shanghai's tech-focused

STAR

50 index .

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50 was up 0.19%.
** Around the region, MSCI 's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.49% while Japan's Nikkei index .N225 was down 0.41%.
** The yuan CNY=CFXS was quoted at 7.1319 per U.S. dollar, 0.03% weaker than the previous close of 7.1297.
 Reporting by Shanghai Newsroom; Editing by Janane Venkatraman 

Sumber : Reuters