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Hong Kong shares fall as tech stocks weigh; post weekly gain

08/13/2021 | 04:44am EST

Aug 13 (Reuters) - Hong Kong shares fell on Friday, as tech stocks weighed on the city's benchmark index.

** The Hang Seng index fell 0.5%, to 26,391.62, while the China Enterprises Index lost 0.9%, to 9,377.79 points. For the week, the HSI rose 0.8%, the HSCE was up 1.1%.

** Chinese internet giant Alibaba fell 2.5%, after BlackRock Inc revealed on Wednesday it had sold nearly 90% of its holdings of Alibaba in the second quarter.

** Hang Seng Tech Index closed lower 1.9%.

** Peers Tencent declined 2.9%, Meituan was down 1.4%.

** "Rising regulatory and geopolitical risks are weighing on medium-term growth prospects, especially in segments targeted by national reform or security effort," Union Bancaire Privée wrote in a note.

** China Mobile Ltd rose 3.1%, the biggest daily percentage gain since early March.

** The Beijing-based mobile services provider on Thursday posted a 6% rise in H1 net profit and 13.8% growth in operating revenue.

** China Unicom Hong Kong Ltd finished up 1.6%, China Telecom Corp Ltd gained 1.3%

** SMIC slumped 3.9% after the Shanghai Stock Exchange said on Thursday it would remove the company from an index of eligible Shanghai stocks under the Shanghai-Hong Kong Stock Connect.

** The stock has fallen 12.8% this week, on track for the biggest weekly percentage decline since mid-September, 2020.

(Reporting by the Shanghai Newsroom; editing by Jason Neely)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA MOBILE LIMITED 0.11% 46.7 End-of-day quote.5.66%
CHINA TELECOM CORPORATION LIMITED -0.39% 2.56 End-of-day quote.19.07%
CHINA UNICOM (HONG KONG) LIMITED -0.26% 3.87 End-of-day quote.-13.03%
MEITUAN -2.66% 241.2 End-of-day quote.-18.13%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION -1.59% 21.7 End-of-day quote.-1.81%
TENCENT HOLDINGS LIMITED -2.32% 462.6 End-of-day quote.-17.98%
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