Hong Kong stocks open lower as tech shares retreat

Hong Kong stocks opened lower on Wednesday, weighed down by losses in major technology names.

The benchmark Hang Seng Index fell 85 points, or 0.33 percent, to 26,073 at the open, while the Hang Seng Tech Index dropped 0.54 percent to 6,133. The China Enterprises Index slipped 0.3 percent to 9,262. Turnover was HK$3.3 billion.

Among tech heavyweights, Alibaba (9988) slipped 0.6 percent, Tencent (0700) fell 0.3 percent, and Meituan (3690) lost 0.7 percent, while JD.com (9618) edged up 0.16 percent and Xiaomi (1810) was little changed. Baidu (9888), which tumbled sharply in the previous session, extended losses with another 5 percent drop to HK$122.

STAFF REPORTER