Trip.com’s antitrust shock hits Hong Kong stocks as Hang Seng slips; Alibaba’s Qwen upgrade draws focus
Hong Kong’s Hang Seng Index closed down 0.5% at 26,866.29 Thursday, led by a sharp drop in Trip.com shares after news of a China antitrust probe. Trip.com fell as much as 21.7% before paring losses. Alibaba launched new Qwen app features for food delivery and travel booking. China raised minimum margin requirements for margin trading on major exchanges.