US payrolls on Friday topped expectations, lifting odds of a Fed rate hike this
month to above 50% and sending US Treasury yields higher; China Golden Dragon
Index rebounded. Hong Kong stocks opened flat then reversed: Hang Seng Index
opened at 25,652, slid as much as 287 points to 25,363 and breached its 10- and
20-day moving averages. At midday the Hang Seng was down 0.97%, the Hang Seng
Tech Index down about 1%, with turnover HKD 123.0 bln. Sector moves: optical
communications, storage, recent AI listings and PCB names led gains;
semiconductors, department stores and media also rose. SaaS, mainland property
and property management stocks pulled back; coal, autos and mainland banks
weakened intraday. Notable movers: Qunhe Technology (00068.HK) +29%+, Cambridge
Technology (06166.HK) +21%+, Guanghe Technology (01989.HK) +13%+; Youjia
Innovation (02431.HK) -22%-, Tianshu Zhixin (09903.HK) -6.5%-, Baidu (09888.HK)
-6%.
