On Sept. 11, after a Hong Kong court handed down sentencing in the Hong Kong Alliance case, China’s Foreign Ministry said the central government firmly supports the Hong Kong SAR in lawfully safeguarding national security and cracking down on acts that endanger it. The ministry urged relevant parties to respect China’s sovereignty and Hong Kong’s rule of law, to stop making irresponsible comments on SAR judicial proceedings and to cease any intervention in Hong Kong’s judiciary or China’s intern

France-Germany 10-year bond yield spread widened to 92.85 bps, the widest since July 2012.

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%.