Hong Kong shares opened higher then faded; by midday the Hang Seng Index was
down 0.25% and the Hang Seng Tech Index down 0.75%. Biotech names led gains
early—drug stocks including 02268.HK and 01952.HK rose over 10%, while 02126.HK
and 02269.HK gained more than 4%. Auto names tumbled after results: 09868.HK
fell 9.73% and 09863.HK dropped 7.25% by midday. Alibaba (09988.HK) opened up
over 2% but narrowed to +0.53% at the midday close. Meituan (03690.HK) was down
over 6% at the half-day mark; 00100.HK fell nearly 2%, and 00285.HK and 09626.HK
each dropped more than 1%.
