Stocks are sliding in Hong Kong after trading flat earlier. The benchmark Hang Seng Index is at 27,576.20, lower by 73.66 points, or 0.27 percent.
Shares in China Mobile (0941) are down by 1.30 percent at HK$45.50. China Unicom (0762) is down by 1.44 percent at HK$4.78. China Telecom (0728) is up by 1.39 percent at HK$2.19.
The state-owned telcom stocks rallied yesterday after the New York Stock Exchange reversed a decision to delist them, in an unusual announcement.
SMIC,(0981), the state-owned chipmaker accused of links with the People's Liberation Army and then sanctioned by the US, is at HK$21.45, up by 10.11 percent.
Alibaba Group (9988), which is facing regulatory heat, is up by 2.96 percent at HK$229.60.
The broader Hang Seng Tech Index is at 8,641.76, higher by 178.21 points, or 2.11 percent.
