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Hong Kong Stocks Open Lower; Fast-Growing Tencent-Backed Kuaishou Falls 6% on Stake Reduction

GateNews
Stocks
According to HKEJ, Hong Kong stocks opened lower today following gains in U.S. markets. The Hang Seng Index fell 47 points, or 0.2%, to 23,568 points, while the National Index dropped 31 points, or 0.4%, to 7,780 points. Kuaishou (01024) fell 6% to HK$43.26 on its opening, marking the worst-performing blue-chip stock, after Tencent (00700) reduced its stake in the platform. Tencent itself opened 1.5% higher at HK$459. Among other major tech stocks, Alibaba (09988) opened 0.2% higher at HK$96.15, Meituan (03690) rose 0.7% to HK$75.45, and Baidu (09888) climbed 1.2% to HK$111.8.
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