Hang Seng Index hits 4-month low amid Beijing support worries
Business
Hong Kong's stock market just hit a four-month low, with the Hang Seng Index dropping 2.9% and tech shares falling even harder at 4.6%.
Mainland China's main indexes also slipped, as investors grew worried about the lack of strong economic support from Beijing.
China stimulus fails to lift markets
China's recent stimulus moves, like mortgage subsidies, haven't been enough to boost confidence, even though the economy grew more than expected last quarter.
Big names like Tencent and Alibaba saw their shares drop too (down 3.4% and 6%).
On top of that, a selloff in AI-related stocks made things even shakier.
While some think the worst might be over, one investor said any recovery would take time given all the uncertainty right now.