Hong Kong Stocks Open Sharply Lower

Mohammad Ali (@ChaudhryMAli88) Published July 26, 2021 | 08:20 AM

Hong Kong stocks open sharply lower

Hong Kong, (UrduPoint / Pakistan Point News - 26th Jul, 2021 ) :Hong Kong shares started Monday morning with sharp losses as tech firms took another hit from China's clampdown on the sector, with Tencent among the biggest losers after mainland authorities said it had to give up its exclusive music label rights citing anti-monopoly laws.

The Hang Seng Index sank 1.82 percent, or 496.25 points, to 26,825.73.

The benchmark Shanghai Composite Index shed 0.35 percent, or 12.38 points, to 3,538.01, while the Shenzhen Composite Index on China's second exchange slipped 0.30 percent, or 7.35 points, to 2,460.79.

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