Hang Seng Opens Lower as Tech Stocks Retreat, XPeng Climbs Against Trend
Hong Kong equities started on the back foot, with the Hang Seng Index down 135 points, or 0.51 per cent, at 26,350. The Hang Seng China Enterprises Index slipped 42 points, or 0.45 per cent, to 9,313, while the Tech Index fell 49 points, or 0.82 per cent, to 5,894.
Technology counters led the decline: Tencent eased 0.9 per cent, Alibaba fell 1 per cent, Meituan lost 1.3 per cent, Xiaomi dipped 0.5 per cent, JD.com retreated 2.1 per cent and Kuaishou was down 1.4 per cent.
Financials were mixed. HSBC edged 0.2 per cent lower, AIA was unchanged, Ping An slipped 0.1 per cent and Hong Kong Exchanges and Clearing added 0.1 per cent.
In individual moves, XPeng advanced 4.8 per cent against the weaker market. Hua Hong Semiconductor dropped 3.8 per cent following its results.10:03 AM.
Source : Dimsumdaily.hk