Hong Kong’s Dangle Seng index drops as Chinese tech shares tumble
2 min readSINGAPORE — Shares in Asia-Pacific mostly slipped in Monday early morning trade as traders monitored Chinese tech stocks in Hong Kong.
Hong Kong-listed shares of Alibaba dropped 3.04% adhering to a Monetary Situations report that Beijing would like to crack up Ant Group’s Alipay and pressure the generation of a separate loans app.
Other Chinese tech stocks also declined, with Tencent falling 2.33% while Meituan slipped 3.39%. The Cling Seng Tech index dropped 1.74%.
Hong Kong’s broader Dangle Seng index dropped 1.5%. Mainland Chinese shares edged greater, with the Shanghai composite shedding .15% whilst the Shenzhen ingredient declined .156%.
In Japan, the Nikkei 225 edged .25% reduced although the Topix index shed .16%.
Shares of automakers Toyota and Honda fell 2.37% and 1.84% respectively. The two firms criticized a U.S. Dwelling electric car tax prepare that would reward Detroit’s Big A few automakers, according to a Reuters report.
South Korea’s Kospi dipped .22%.
The S&P/ASX 200 in Australia edged .14% greater.
MSCI’s broadest index of Asia-Pacific shares outdoors Japan traded .74% decrease.
On the lookout forward for the 7 days, the U.S. shopper price index for August is set to be out on Tuesday, while retail product sales figures stateside are expected Thursday. A slew of Chinese financial facts, together with retail revenue and industrial output for August, is also set to be out on Thursday.
Currencies and oil
The Japanese yen traded at 109.95 per greenback, much better than levels around 110.4 witnessed against the greenback previous week. The Australian dollar adjusted fingers at $.7358 following its slide final 7 days from above $.744.
Oil selling prices ended up greater in the early morning of Asia buying and selling hrs, with international benchmark Brent crude futures up .7% to $73.43 per barrel. U.S. crude futures highly developed .76% to $70.25 for every barrel.
