Hong Kong’s Stock Benchmark Marks Its Worst Start in Three Years
- Hang Seng Index swings to loss with Alibaba among top losers
- China Evergrande Group shares halted pending announcement
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Hong Kong stocks declined on the first trading day of 2022 to mark their worst start to a year since 2019 amid weak sentiment on tech shares and ongoing concerns about the financial health of Chinese developers.
The benchmark Hang Seng Index closed 0.5% lower, reversing from an earlier gain of as much as 0.9%. The gauge had risen in the first trading session in each of the last two years and dropped by 2.8% in 2019.