Tencent’s Disappointing Results Drag Down Hong Kong Shares

JIAXING, CHINA - NOVEMBER 16: A speech about WeChat Ecosystem Innovation by Tencent is delivered during the Release Ceremony for World Leading Internet Scientific and Technological Achievements as part of the 3rd World Internet Conference (WIC) at Wuzhen Internet International Conference and Exhibition Center on November 16, 2016 in Jiaxing, Zhejiang Province of China. The 3rd World Internet Conference (WIC) - Wuzhen Summit kicks off at Wuzhen township on Wednesday and will last to Nov 18, in Zhejiang Province. (Photo by VCG/VCG via Getty Images)

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Hong Kong’s benchmark Hang Seng Index edged lower on Thursday, with continued strength in the U.S. dollar hurting sentiment in Asia, but the decline was limited by strength in the services sector.

The benchmark Hang Seng index fell 0.1%, to 22,262.88, while the China Enterprises Index lost 0.4%, to 9,326.54 points.

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An index tracking Hong Kong-listed technology firms lost nearly 1% on Thursday, weighed down by Tencent Holdings which dropped over 1% on worse-than-expected third quarter results released after the market close on Wednesday.

The service sector was the top performer, aided by heavyweight Sands China (SCHYF) which jumped nearly 5%.