HONG KONG: China and Hong Kong shares dropped in early trade on Wednesday, tracking a sell-off in technology sector stocks on Wall Street overnight due to rising growth fears.
The blue-chip CSI 300 Index declined 0.6% in early Asian trade, while Hong Kong’s Hang Seng Index fell 1.7%. Most sectors were down, with CSI 5G Communication Index falling 3%, energy stocks declining 2.5%, while Hong Kong’s Hang Seng Tech losing 1%.
China stocks slip as property giants tally losses
The benchmark S&P 500 index, Nasdaq and Dow on Tuesday registered their biggest daily drop since early August.
Shares of Nvidia tumbled 9.5%. Sentiment was also hit after growth in China’s services sector activity slowed in August despite the summer travel peak.
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