Hong Kong stocks surrender gains on China growth concerns as Japan market recoups losses
Hong Kong stocks surrendered gains to trade at a three-month low amid renewed concerns about China’s economic recovery, as a global market sell-off eased with Japanese equities clawing their way out of a bear market.
The Hang Seng Index dropped 0.3 per cent to 16,647.34 at the close of Tuesday trading, erasing a rally of as much as 1.3 per cent. The Tech Index gained 0.1 per cent while the Shanghai Composite Index added 0.2 per cent. Major gauges in the region rose, with South Korea’s Kospi advancing 3.3 per cent and Australia’s S&P/ASX 200 adding 0.4 per cent.
China Life Insurance slumped 4.5 per cent to HK$10.10, Macau casino operator Sands China sank 4 per cent to HK$14.30 and online game operator NetEase retreated 2.5 per cent…
