Hong Kong shares slip as tech stocks weigh, gold miners gain

Hong Kong shares edged lower in early trade on Wednesday, weighed down by continued weakness in heavyweight technology stocks, while gains in gold miners provided some support as bullion prices rebounded.

The benchmark Hang Seng Index was down 0.14 percent at 26,797, while the Hang Seng Tech Index slipped 0.87 percent to 5,419.

Technology shares extended recent declines. Alibaba (9988) fell 0.99 percent to HK$159.4, Tencent (0700) slid 1.55 percent to HK$572, and Meituan (3690) dropped 1.82 percent to HK$91.5, the biggest decliner among blue chips. Xiaomi (1810) eased 0.23 percent to HK$34.52. Baidu (9888) fell 1.06 percent, Kuaishou Technology (1024) dropped 1.77 percent, JD.com (9618) slipped 0.18 percent, and NetEase (9999) declined 0.5 percent in early trading.

Gold-related stocks outperformed after bullion prices recovered. Zijin Mining (2899) rose 2.13 percent, Zhaojin Mining Industry (1818) gained 3.2 percent, and Shandong Gold Mining (1787) climbed 3.48 percent. China Gold International Resources (2099) advanced 3.91 percent, while Lingbao Gold (3330) and Chifeng Jilong Gold Mining (6693) jumped 3.39 percent and 3.89 percent respectively.