Hong Kong stocks slide as PDD’s profit slump rattles Alibaba, e-commerce peers Zhang Shidong Business – South China Morning Post

Hong Kong stocks dropped after a poor report card from Chinese e-commerce platform operator PDD Holdings rattled industry peers including Alibaba Group Holding, suggesting discounts to attract consumers will hurt near-term earnings outlook.
The Hang Seng Index fell 0.3 per cent to 23,309.49 at 10.17am local time on Wednesday, while the Hang Seng Tech Index dropped 0.2 per cent. On the mainland, the CSI 300 Index slipped 0.1 per cent and the Shanghai Composite Index retreated 0.2 per…Hong Kong stocks dropped after a poor report card from Chinese e-commerce platform operator PDD Holdings rattled industry peers including Alibaba Group Holding, suggesting discounts to attract consumers will hurt near-term earnings outlook.
The Hang Seng Index fell 0.3 per cent to 23,309.49 at 10.17am local time on Wednesday, while the Hang Seng Tech Index dropped 0.2 per cent. On the mainland, the CSI 300 Index slipped 0.1 per cent and the Shanghai Composite Index retreated 0.2 per…  Read More 

​Business – South China Morning Post