Hong Kong and mainland stocks drifted lower following a rotation away from mega cap tech stocks on Wall Street. The benchmark Hang Seng Index tumbled by 456.42 percent, or 1.83 percent at 24,551.18 points as of noon. The Hang Seng Tech Index gave up 3.47 percent at 7,438.82 points, while the CSOP Hang Seng Tech Index exchange-traded fund recorded a loss of 3.81 percent, trading below its offer price at HK$7.455 a unit. The Hang Seng Tech Index ETF (3022) issued by Hang Seng Investment Management gained by 6 percent on debut at HK$7.47 per unit. The ChinaAMC Hang Seng Tech Index ETF (3088) lost 3.13 percent at HK$9.435 a unit, also below its offer price of HK$10.

Source: The Standard September 04, 2020 04:20 UTC