Hong Kong Market falls on profit booking

Hong Kong share market finished session lower on Tuesday, 10 January 2023, as investors opted to book profit after city's stock benchmark has rallied 8.1% this year. Also, weighing sentiments was caution ahead of US Fed Chair Jeremy Powell's speech later in the day for more clues on the rate-hike trajectory.

At closing bell, the benchmark Hang Seng Index fell 56.88 points, or 0.27%, to 21,331.46. The Hang Seng China Enterprises Index was down 22.44 points, or 0.31%, to 7,263.63.

Among blue chips, Alibaba Group fell 0.6% to HK$109.70 while JD.com lost 0.1% to HK$249.80 and Meituan tumbled 1.1% to HK$178.60. Developers Country Garden and Longfor, beneficiaries of Beijing's support for the housing market, both declined by at least 2.4%. Hotpot chain Haidilao fell 1.2% to HK$24.05.

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