Hong Kong stocks tumble on bearish property, tech firms

HONG KONG, Sept. 20 (Xinhua) -- Hong Kong stocks fell significantly Monday, weighed down by lackluster property and tech companies, as the benchmark index once retreated to the lowest level in nearly a year.

The Hang Seng Index (HSI) shed 3.3 percent to finish the day at 24,099.14 points. At one moment, the index dipped to as low as 23,871.84 points, marking the weakest notch since October last year.

Turnover of the main board totaled 141.78 billion Hong Kong dollars (about 18.2 billion U.S. dollars).

The property sector led the decline. Debt-laden mainland developer China Evergrande Group slumped 10.24 percent, and its property services branch, also listed on Hong Kong, declined 11.3 percent. Other developers that suffered Monday included Henderson Land Development, down by 13.19 percent, and New World Development, down by 12.27 percent.

The tech sector was also sluggish as multiple internet giants dropped, including Tencent, Kuaishou, JD.com and NetEase. The Hang Seng tech index lost 2.8 percent to close at 6,271.37 points.