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Hong Kong Shares Tumble on Growing Worries About China’s Economy

By
Juro Osawa
· · Source: The Information

Hong Kong stocks, including Chinese tech giants like Tencent and Alibaba, fell sharply Monday amid growing concerns about China’s economic outlook after President Xi Jinping unveiled a new leadership team stacked with loyalists. Shares of Tencent and Alibaba both fell 11% in Hong Kong, while Meituan plunged 15% and Baidu dropped 12%. Hong Kong’s Hang Seng Index fell 6.4% to its lowest level in...

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