Hong Kong stocks fall; tech, biotech firms lead decline
Hong Kong's benchmark Hang Seng index slipped 0.5% by the lunch break. The Hang Seng China Enterprises Index fell 0.7% while Hang Seng Tech lost 0.9%. AI developer Minimax and tech giant Alibaba dropped 5% and 3% respectively. Biotech firms dropped 2.7%.
HONG KONG, Oct 7 (Reuters) — Hong Kong stocks fell on Wednesday, tracking broader weakness in Asian markets, as oil prices rose and big internet and biotech firms led the decline. 5% by lunch break. 9%. * "China (markets) stayed subdued despite policy support, as weak consumer demand and mixed industrial data offset selective interest in technology," Bassel Khatoun, head of research for Templeton Global Investments, said in a note.
* Hong Kong-listed Chinese tech firms were under selling pressure. * AI developer Minimax and tech giant Alibaba dropped 5% and 3% respectively. 7% after a jump in the previous session. 2 in September, adding to the weak market sentiment.
* The index fell below the contraction-expansion threshold of 50 for a second straight month. * China's onshore financial markets are closed from October 1 to October 7 for the National Day holidays. Trading will resume on October 8. com; 852-3462-7739;)