Hong Kong (CNN Business) Trading on Hong Kong's new Nasdaq-like technology index got off to a rough start Monday, while global stocks were muted on concerns about the risk that the economic recovery will falter because of a resurgent pandemic. Hong Kong is looking to cement its status as a base for Chinese tech, while tensions between the United States and China escalate. Citi analysts dubbed the new index the "Nasdaq of the East" last week said they expected that "high quality" Chinese tech companies will likely be attracted to Hong Kong. Alibaba BABA JD.com JD NetEase NTES The debut comes a week after Hang Seng Indexes announced its creation. Kospi KOSPI Shanghai Composite SHCOMP Hang Seng HSI Nikkei N225 Stocks elsewhere in Asia-Pacific were mixed.

Source: CNN July 27, 2020 04:52 UTC