Hong Kong shares slip despite tech gains

Hong Kong stocks pared early gains and closed lower on Thursday, despite several major tech names advancing.

The benchmark Hang Seng Index once touched a one-week high before ending down 33 points, or 0.13 percent, at 26,484.

The Hang Seng China Enterprises Index rose 1 point, or 0.01 percent, to 9,444, while the Hang Seng Tech Index ended at 6,379, up 0.89 percent.

Total turnover jumped 9 percent to HK$314.8 billion, the highest in four trading days.

Xiaomi (1810), set to unveil a new smartphone series targeting iPhone on Thursday evening, rose 4.48 percent to HK$59.45.

Baidu (9888) gained 2.33 percent to HK$131.60 after its autonomous driving service Apollo Go received Dubai’s first trial operation permit.

In the mainland, the Shanghai Composite Index fluctuated and closed at 3,853, down less than 1 point, while the Shenzhen Component Index rose 89 points, or 0.67 percent, to 13,445.

STAFF REPORTER