The Hang Seng Index fell back in morning trading on the Hong Kong stock market on the 29th. Selling prevailed, particularly in technology stocks, as higher long-term US interest rates and uncertainty over the situation in the Middle East weighed on investor sentiment.
The Hang Seng Index fell back in morning trading on the Hong Kong stock market on the 29th, closing at 24,486.52, down 0.63% from the previous day. The decline in investor sentiment amid higher long-term US interest rates and uncertainty over the situation in the Middle East was cited as a factor.
Among individual stocks, large-cap names including internet services company Tencent Holdings (Tencent) and e-commerce company Alibaba came under selling pressure. The decline in technology stocks was widely viewed as a burden on the market.