Pricey IPOs weigh on HKEX

Investors losing interest in 'hyped' stocks of new economy companies

A group of Hong Kong-listed new economy companies have fared poorly so far this year, throwing cold water over the city's once red-hot stock market that is mired in overpriced IPOs, and hinting at a market-wide focus shift.

The Hang Seng Index was down 1.82 percent, or 568.71 points, to finish at 30,665.64 points on Wednesday.