Hong Kong Stock Selloff Quickens as Year's Top Performers Slide
- Geely Auto and AAC Technologies were among biggest losers
- Investors are closing out positions for the year: Mirabaud
Photographer: Xaume Olleros/Bloomberg
This article is for subscribers only.
Hong Kong’s benchmark index fell the most in 13 months as losses steepened in some of the year’s top performing stocks, including Geely Automobile Holdings Ltd. and AAC Technologies Holdings Inc.
The Hang Seng Index slid 2.1 percent to its lowest close since Oct. 26. The gauge has dropped in seven of the past eight sessions and is more than 5 percent below a decade high reached on Nov. 22. The selloff has come amid concern inflows from mainland China will slow and as global equity markets retreat. Geely, AAC and Sunny Optical Technology Group Co., which have led gains on the index this year, plunged more than 7 percent on Wednesday.