Hong Kong stock market has weak start to the Year of the Dragon

Feb 14, 2024

The Hong Kong Exchange holds a ceremony marking the beginning of the Year of the Dragon on Feb. 14. Chairwoman Laura Cha is at center in front of the gong, standing between CEO Nicolas Aguzin and the city’s finance secretary, Paul Chan. (Photo by Kenji Kawase)   

KENJI KAWASE, Nikkei Asia chief business news correspondent | Hong Kong

HONG KONG — The Hong Kong stock market began the Year of the Dragon on a weak note on Wednesday, plagued by ongoing weakness of the local and the mainland Chinese economies and diminishing appetite by global investors.

The benchmark Hang Seng Index opened at 15,579.41, 1.1% lower than the previous close last Friday before the long Lunar New Year break. The index closed the day higher at 15,879.38, up 0.8%, after major index-heavy tech shares like Tencent Holdings, Alibaba Group Holding and Meituan rebounded.

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