HONG KONG: Hong Kong stocks dropped more than one percent Thursday – giving up the previous day’s rally – on lingering concerns about the global economy, with tech firms leading the losses.

The Hang Seng Index sank 1.51 percent, or 315.59 points, to close at 20,574.63.

China, HK stocks end higher on stimulus boost, global rally

The Shanghai Composite Index fell 0.99 percent, or 32.72 points, to 3,272.00, while the Shenzhen Composite Index on China’s second exchange shed 0.75 percent, or 16.65 points, to 2,193.81.