Hang Seng Index opens lower, tracking Wall Street losses
Hong Kong stocks opened lower on Wednesday, with the Hang Seng Index falling 62 points to 24,282, tracking overnight US declines. Tech shares were mixed, chipmakers remained under pressure, and financial stocks like HSBC and AIA slipped at the bell.
Hong Kong stocks opened lower on Wednesday, tracking overnight weakness in US markets, with the benchmark Hang Seng Index falling 62 points, or 0.26 per cent, to 24,282 points.
The tech gauge was flat at 4,135 points, as technology shares opened mixed. Alibaba (9988) inched up 0.9 per cent, while Tencent (0700) retreated 0.9 per cent after detailing its note issuance plan.
Chipmakers remained under selloff pressure, with Hua Hong Grace Semiconductor (1347) and Semiconductor Manufacturing International Cooperation (0981) down 0.1 per cent and 0.3 per cent, respectively.
Financial stocks also opened weaker, with HSBC (0005) down 1.2 per cent and AIA (1299) decreasing 0.4 per cent at the opening bell.