Hong Kong Stocks Retreat From Two-Day Rally

The Hang Seng Index fell 250 points, or 1.0%, to 24,590 on Tuesday, snapping a two-session rally as investors locked in recent gains following the market’s strong advance at the start of the week. Sentiment was also subdued ahead of key Chinese economic data releases, including industrial production, retail sales, house prices and the unemployment figures, which could offer fresh insights into the strength of the country’s economic recovery. Meanwhile, weakness in finance and technology stocks added pressure to the benchmark, with both sectors pulling back after leading gains in the previous session. Knowledge Atlas fell to 2.9% as investors took profits following its nearly 33% surge in the previous session. Among notable laggards included Tencent Holdings (-1.4%), Semiconductor Manufacturing International Corporation (-0.4%), AIA (-1.0%), MMG (-10.3%), and China Hongqiao Group (-4.0%).
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