From South China Morning Post:

Hong Kong stocks slipped as China’s GDP target failed to impress investors. The Hang Seng Index fell 1.3%, with tech stocks tumbling 2.7%. Tencent dropped 1.7%, Alibaba lost 2%, and JD.com slid 4.7%. The National People’s Congress opened with Premier Li Qiang setting a 5% GDP target for 2024.

The government will issue 3.9 trillion yuan of special-purpose bonds, signaling acknowledgement of economic headwinds. Markets seek clear growth signals, but sentiment remains muted. Asian markets followed suit, with Japan’s Nikkei 225 down 0.6%, South Korea’s Kospi Index losing 0.3%, and Australia’s S&P/ASX 200 remaining flat.



Read more at South China Morning Post: Hong Kong stocks retreat amid worries about economic growth as ‘two sessions’ meeting gets under way in Beijing