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Hong Kong stocks erase gains triggered by US debt ceiling agreement, as investors worry about China’s tepid economic recovery

From scmp.com

Hong Kong stocks swung between losses and gains, as trade remained volatile with sentiment fluctuating between the lift provided by the tentative agreement to raise the US debt ceiling and worries about China’s weak economic recovery. The Hang Seng Index was down 0.4 per cent at 18,669.24 as of 11.25am local time, giving up an earlier gain of as much as 0.7 per cent and hovering around a six-month low. The Tech Index lost 0.5 per cent while the Shanghai Composite climbed 0.1 per cent. Among the main losers were Tencent which eased 1.1 per cent to HK$319, food-delivery giant Meituan that slumped 5.8 per cent to ... (full story)

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  • Category: Fundamental Analysis