Hong Kong stocks fall at open as investors watch US midterms
Hong Kong shares dropped at the Wednesday open, with the Hang Seng Index down 0.32 per cent as traders awaited US midterm results. Biopharmaceutical stocks gained, while tech firms were mixed.
Hong Kong shares fell at the open on Wednesday as investors awaited the outcome of the US midterm elections, according to The Standard.
The benchmark Hang Seng Index decreased 74 points, or 0.32 per cent, to 23,451. The tech gauge went down 0.51 per cent to 3,848.
Biopharmaceutical stocks outperformed the market. Wuxi Biologics (2269) and BeOne Medicines (6160) jumped 2.2 per cent and 2.1 per cent, marking the two largest gains at the opening bell. Hansoh Pharmaceutical (3692) and Wuxi Apptec (2359) followed with growth of 1.8 per cent and 1.7 per cent, respectively.
Tech giants opened mixed. JD.com (9618) and Xiaomi (1810) slipped 1.8 per cent and 1.7 per cent, while Baidu (9888) inched up 0.8 per cent. Alibaba (9988) retreated 0.8 per cent, and Tencent (0700) rose 0.15 per cent.
Lenovo (9992) recovered from a 6 per cent decline a day ago, rising 1.7 per cent at the open.