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 p

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%.