APAC equities opened broadly weaker and Hong Kong shares gapped down, with the
Hang Seng sliding for a fourth day after breaking below the 25,000 level. The
index opened down 236 points at 24,718, hit an intraday low of 24,570 (down 384)
before a tech and auto-led rebound trimmed losses; it closed down 0.6% for the
day and is down 3.3% on the week. The Hang Seng Tech index fell 0.23%, down
5.45% for the week. Market turnover was HKD 228.43 bln. Sector flow: application
software, nonferrous and precious metals, and storage names led declines;
computer equipment and semiconductor-equipment stocks were weak; cosmetics,
optical communications and media outperformed. Food, department-store, coal and
port names rebounded. Notable movers: Luoyang Molybdenum (03993.HK), MiniMax
(00100.HK) and Sun Hung Kai Properties (00016.HK) fell over 7%, Zijin Mining
(02899.HK) dropped over 6.5%; Orient Overseas (00316.HK) and Shenzhou
International (02313.HK) rose over 2%, while Xiaomi (01810.HK), Haidilao
(06862.HK) and Mengniu Dairy (02319.HK) gained more than 1%.
