0902 GMT - Hong Kong stocks ended lower, extending their losing streak for the third straight day. The downturn was led by Chinese tech companies, which have suffered recent losses due to some disappointing earnings, as well as weakness in the U.S. tech sector.
The benchmark $Hang Seng Index(800000.HK)$ fell 1.1% to 25049.97. $BABA-SW(09988.HK)$dropped 11% after the e-commerce giant cut its revenue guidance for the fiscal year 2022. Its online medical business, $ALI HEALTH(00241.HK)$, lost 4.3% and Meituan fell 1.6%.
Consumer goods companies further weighed on the market, with $Budweiser Brewing Company APAC Limited(01876.HK)$ shedding 2.1% and $HENGAN INT'L(01044.HK)$ ending 1.8% lower.
(yifan.wang@wsj.com)
