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, recen

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%.