Nov 30 (Reuters) - Hong Kong shares finished down on Tuesday
to a more than one-year low, after U.S. drugmaker Moderna set
off fresh alarm bells about the Omicron variant, with tech firms
dragging down the Hang Seng Index as regulatory concerns spooked
The Hang Seng index was down 1.6% at 23,475.26, while
the China Enterprises Index lost 1.5% to 8,368.49
** For the month, the Hang Seng index dropped 2.5% while the
China Enterprises Index declined 2.4%.
** Hong Kong shares extended losses in afternoon trade after
the head of Moderna told the Financial Times that
COVID-19 vaccines are unlikely to be as effective against the
Omicron variant of the coronavirus as they have been against the
** The Hang Seng Tech Index lost 1.2%.
** "Uncertainties in the tech sector haven't fully receded
in the short term as some firms were fined recently," said David
Huang, senior investment srategist at AllianceBernstein.
** "But it doesn't mean those firms will not have
opportunities in the future, as the society still needs them,"
said Liang Zhu, chief investment officer at AllianceBernstein.
** Zhu added that investors require a higher risk premium
for the shares, so their prices should be corrected to a more
** Alibaba's HK shares fell 2.1% to their lowest
since listing. Fellow online giant Tencent slipped
0.7% and food delivery company Meituan extended
Monday's tumble by another 2.9% to hit an almost eight-week low.
** Macau gambling firm Suncity Group Holdings Ltd's
shares almost halved in resumed trade after CEO Alvin
Chau was arrested on Sunday. Investors also feared that the
gaming sector might be drifting into the authorities'
** Casino operators Sands China, Galaxy
Entertainment and Wynn Macau also extended
losses. This year, HK-listed gambling stocks have
lost more than 40%.
(Reporting by the Shanghai Newsroom; Editing by Sherry