Tencent, Alibaba push Hang Seng into weekly loss as US sanctions more Chinese firms over Xinjiang issues

Hong Kong stocks slipped, heading for a weekly loss, after the US sanctioned more Chinese tech companies and added others to a blacklist for alleged human rights abuses in the far-west Xinjiang region.

The Hang Seng Index declined 1.3 per cent to 23,175.19 at midday trading break. The benchmark has weakened 3.5 per cent over five days, set for a fourth week of pullback in five. The Tech Index sank 2.6 per cent to an all-time low. China’s Shanghai Composite Index lost 0.9 per cent.