The Hang Seng Index continued to decline in the Hong Kong stock market on the morning of the 21st. CATL fell 10% after its earnings came in below market expectations, and the index turned lower after an early rebound.
The Hang Seng Index continued to decline in the Hong Kong stock market on the morning of the 21st, closing the morning session down 83.47 points from the previous day at 23,784.27. Although the index opened higher, disappointment over CATL's earnings falling below market expectations weakened investor sentiment and sent the index lower.
CATL shares fell around 10% on the earnings, and the decline in the individual stock worsened sentiment across the market. Selling spread to stocks other than CATL.
CATL's weak performance affected the Hong Kong market, with declines spreading primarily across technology stocks. Market conditions became increasingly weak after reversing sharply from the morning rebound.
The day's information reports market developments, and the market could become active again depending on the release of additional information and the earnings performance of other stocks.