Hang Seng Opens Down 0.88%, Alibaba Slips Over 8% on HK$80 Billion Placement

Hong Kong stocks opened lower on August 24, 2026, with the Hang Seng Index down 0.88% and the Hang Seng Tech Index down 1.11%. Alibaba's shares fell more than 8% after the company announced a placement of HK$80 billion in new shares.