Overnight US equities plunged; Hong Kong opened nearly 400 points lower, staged
an intraday rebound to within ~60 points, then softened with wide swings. At
midday the Hang Seng Index was down 1.06% at 24,533.33 and the Hang Seng Tech
Index was down 1.75% at 4,081.75. Market turnover reached HKD150.02bn.
Compute-hardware-related sectors led declines, with memory chips, PCB and
optical-communications stocks among the heaviest falls. Innovative drug names
and precious metals were weak. Defensive sectors including coal, consumer and
oil outperformed. Selected movers: Li Ning (02331.HK) +3.94%; China Shenhua
(01088.HK) +1.70%; 06809.HK -9.27%; 03308.HK -7.29%; Yangtze Optical Fiber &
Cable (06869.HK) -9.89%; WuXi AppTec (02359.HK) -5.63%; Zijin Mining (02899.HK)
-5.15%.
