Hong Kong stocks slip at open as chip and tech shares decline
Hong Kong shares opened lower on Tuesday, with the Hang Seng Index falling 0.41 per cent. Chipmakers and tech giants weighed on the market, while Haidilao shares fell after a loan plan for its chairman.
Hong Kong shares opened lower on Tuesday, weighed down by chipmakers and tech giants. The benchmark Hang Seng Index fell 99 points, or 0.41 per cent, to 24,172 points. The tech gauge slipped 0.96 per cent to 4,129 points.
Semiconductor Manufacturing International Cooperation (0981) went down 1.9 per cent at the opening bell, while Hua Hong Grace Semiconductor (1347) slid 2.2 per cent. Tech shares opened mixed. Alibaba (9988) and Tencent (0700) dipped 0.5 per cent and 1.1 per cent, respectively, while Xiaomi (1810) recovered 0.8 per cent.
Notably, Haidilao International (6862) saw shares retreat 2.4 per cent at the open after planning to lend 100 million yuan (HK$117.22 million) to its chairman Zhang Yong. Wuxi Biologics (2269) opened 3 per cent lower, marking the worst performer among blue chips.
