HSI finishes lower dragged down by Alibaba - RTHK
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HSI finishes lower dragged down by Alibaba

2021-11-19 HKT 16:35
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  • The Hang Seng Index lost more than 1 percent a day after Alibaba reported an 81 percent plunge in quarterly profit. Image: Shutterstock
    The Hang Seng Index lost more than 1 percent a day after Alibaba reported an 81 percent plunge in quarterly profit. Image: Shutterstock
Hong Kong stocks suffered a second day of hefty losses on Friday, dragged down by a plunge in market heavyweight Alibaba after the e-commerce giant warned on its revenue outlook and said profit collapsed in the second quarter.

The Hang Seng Index tumbled 1.07 percent, or 269.75 points, to 25,049.97.

Alibaba dived 10.71 percent.

The Shanghai Composite Index added 1.13 percent, or 39.66 points, to 3,560.37, while the Shenzhen Composite Index on China's second exchange climbed 1.20 percent, or 29.41 points, to 2,490.27. (AFP)