Market Commentary - Foreign Markets
26-Sep-2023 16:01
Hong Kong Market falls 1.5%
Hong Kong share market finished session lower on Tuesday, 26 September 2023, extending yesterday's losses, amid lingering worries over world's second largest economy, while concerns about policy tightening abroad and higher borrowing costs also weighed on sentiment. Also, investor sentiment dented by news that an onshore unit of the debt-stricken China Evergrande Group had missed a bond payment.
At closing bell, the benchmark Hang Seng Index declined 262.39 points, or 1.48%, to 17,466.90. The Hang Seng China Enterprises Index dropped 99.48 points, or 1.62%, to 6,030.77.
Shares of realty developers declined, China Evergrande Group falling 8.1% after a unit of the embattled property developer missed an onshore bond repayment, adding to its 22 per cent slump a day earlier, spurred by the cancellation of planned creditor meetings.
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