Hong Kong shares tumble in morning

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  • 2021-04-12 HKT 12:27″ title=”The Hang Seng Index fell 412 points to 28,286 in morning trade despite a strong performance from Alibaba. Image: Shutterstock”>


    The Hang Seng Index fell 412 points to 28,286 in morning trade despite a strong performance from Alibaba. Image: Shutterstock
    The Hang Seng Index fell 412 points to 28,286 in morning trade despite a strong performance from Alibaba. Image: Shutterstock

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.