Hong Kong stocks declined on the first day of trading for 2022, weighed by weaker sentiment on tech shares and ongoing concerns about the financial health of Chinese developers.
The benchmark Hang Seng Index slid 0.5% as of 11:15 a.m. local time, reversing from an earlier gain of as much as 0.9%. Alibaba Group Holding and Wuxi Biologics Cayman Inc. were among the biggest decliners, with the latter down 7%. Chinese property shares dropped.
Hong Kong Stocks Fall as Developer Risks Weigh and Tech Weakens - Bloomberg
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