Hong Kong stocks open lower as tech, auto shares weigh

Hong Kong stocks opened lower on Friday as technology shares broadly retreated.

The Hang Seng Index fell 65 points, or 0.25 percent, to 27,221 at the open, with turnover of HK$2.8 billion. The Hang Seng China Enterprises Index slipped 30 points, or 0.32 percent, to 9,693, while the Hang Seng Tech Index dropped 0.44 percent to 6,653.

Tech shares were mixed. Tencent (0700) edged up 0.07 percent, while Alibaba (9988) gained 1.03 percent to HK$185. Meituan (3690) and Xiaomi (1810) were flat. JD.com (9618) lost 1.82 percent, Baidu (9888) shed 1.36 percent, and NetEase (9999) declined 0.99 percent.

Auto stocks weakened. BYD (1211) dropped 1.49 percent, Li Auto (2015) and Xpeng (9868) slipped 1.37 percent and 2.36 percent, respectively, while Nio (9866) added 0.08 percent.

STAFF REPORTER