Hang Seng Index Slips Slightly as Crypto Stocks Plunge — Xinhua Tech Drops Over 6%

TradingKey – On Tuesday, August 26, the Hang Seng Index (HSI) failed to extend its recent rally, dipping 0.25% in early trading to 25,764 points. This comes after a strong performance on Monday, when the index surged nearly 3% to a high of 25,918, marking its best level since 2021.

Hang Seng Index Chart – Source: Google

The pullback in global crypto markets weighed heavily on Hong Kong-listed crypto-related equities. Key decliners included:

• Xinhua Technology (01611.HK): down 6.2%
• Pioneer Pharma (00399.HK): down nearly 4%
• ZhongAn Online (06060.HK) and VSTECS Holdings (00856.HK): both down close to 2%
• Boyaa Interactive (00434.HK), Yeahka (09923.HK), and Guotai Junan International (01788.HK): also posted losses