Hong Kong stocks fell on Tuesday after a high-level briefing on Monday failed to deliver the easing measures some investors had anticipated.
The Hang Seng Index lost 0.5 per cent to 26,221.67 as of 9.45am. The Hang Seng Tech Index dropped 1 per cent. On the mainland, the CSI 300 Index gained 0.4 per cent while the Shanghai Composite Index fell 0.1 per cent.
Alibaba Group Holding rose 2 per cent to HK$162.40, and Citic rose 1.6 per cent to HK$11.51. New Oriental Education & Technology, an online education firm, rose 2.3 per cent to HK$40.80.
Limiting gains, search giant Baidu tumbled 6.2 per cent to HK$127.30, while e-commerce company JD.com lost 3.7 per cent to HK$129.30.
Pan Gongsheng, governor of the People’s Bank of China, along with top officials from the banking, securities and foreign-exchange sectors, reviewed the achievements of China’s financial sector over the past five years at the briefing on Monday, but did not announce any immediate policy changes. Some investors had hoped for more from the event as the line-up of officials was similar to a meeting in September when Beijing unveiled a series of measures, including interest rate cuts, to support the struggling real estate and retail sectors.
Chinese nursery product maker Butong Group gained 28 per cent to HK$91.15 on its debut.
