Hong Kong Shares Tumble In Morning
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2021-04-12 HKT 12:27
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Hong Kong stocks fell in Monday's morning session as traders prepare for the upcoming earnings season, though tech giant Alibaba soared as company officials played down the impact of a record antitrust fine imposed by Chinese regulators at the weekend.
The Hang Seng Index slumped 1 percent, or 281 points, to 28,417.
The benchmark Shanghai Composite Index was down 0.8 percent at the break, ahead of a rush of economic figures from the country.
Tokyo, Sydney, Seoul, Taipei, Singapore, Manila, Jakarta and Wellington were also well in the red, as investors wait to see if US earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for US inflation and retail sales this week.
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