Hong Kong shares close lower Friday

HONG KONG, Nov. 19– Hong Kong shares ended lower Friday, with the benchmark Hang Seng Index down 1.07 percent to 25,049.97 points, marking a three-day decline streak. The Hang Seng China Enterprises Index, a benchmark that reflects the overall performance of Chinese mainland securities listed in Hong Kong, lost 0.72 percent to end at 8,970.67 points.

HONG KONG, Nov. 19 (Xinhua) — Hong Kong shares ended lower Friday, with the benchmark Hang Seng Index down 1.07 percent to 25,049.97 points, marking a three-day decline streak.

The Hang Seng China Enterprises Index, a benchmark that reflects the overall performance of Chinese mainland securities listed in Hong Kong, lost 0.72 percent to end at 8,970.67 points.

Chinese e-commerce giant, Alibaba’s downward adjustment for 2022 financial year earnings guidance saw a deep selloff with shares dropping 10.71 percent.

Bucking the trend, another e-commerce giant JD.com, which beat consensus estimates and reported revenue growth of 25.54 percent year on year in the third quarter, saw its stock gain 9.1 percent by the end of the session, according to Hong Kong-based financial information provider AskLORA. Enditem