Hang Seng Slips 3% This Week
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The Hang Seng Index fell 3% this week, closing at 26,560 after a 1.2% drop on Friday. This decline follows three weeks of gains, influenced by Wall Street's sell-off and concerns over AI's impact on software profits. Chinese equities also weakened ahead of January CPI data, with gold price volatility affecting consumer inflation. Major losers included Knowledge Atlas Tech (-6.1%) and AIA Group (-5.2%). Meituan's stock slipped 2.2% after its acquisition of Dingdong Fresh for USD 717 million, amid ongoing challenges in its core business and overseas expansion.
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