Chinese Stock Rally Cools in Hong Kong as Tech Shares Slump
A historic rally in Chinese stocks took a breather on Thursday, as traders took profit following gains of more than 30% from a September low.
The Hang Seng China Enterprises Index fell as much as 4.9% before finishing the day down 1.6%, snapping a 13-session run of gains. Chinese developers led the declines after a measure tracking the sector surged by a record Wednesday. Mainland Chinese markets remain closed through Oct. 7 for the Golden Week holidays.