Hang Seng Index opens lower on Thursday, down 18 points, Alibaba rises 2.4pc

Hong Kong stocks opened lower on Thursday, tech heavyweights also opened shy after surging at market close the previous day, and Asian stocks rebounded.

The benchmark Hang Seng Index slid 0.07 percent, or 18 points, to 24,181 points.

Tech gauge went up by 0.29 percent to 4,744 points.

Alibaba (9988) rose 2.4 percent after gaining 12 percent on Wednesday, still the best-performing blue chip. Tencent (0700) and Xiaomi (1810) only rose by less than 1 percent. 

Knowledge Atlas Technology (2513), which surged over 13 percent on Wednesday and announced a 13 percent discounted share placement to raise HK$31.4 billion, opened 3 percent higher.

Chip stocks gained. Semiconductor Manufacturing International Corporation (0981) rose 2.4 percent, and Hua Hong Grace Semiconductor (1347) increased 3.7 percent.

Meanwhile, Laopu Gold (6181) dragged down 2.5 percent, making it the worst-performing blue chip. Zijin Mining (2899) slid 0.7 percent. 

HSBC (0005) and AIA (1299) fell 1.3 percent and 1 percent, respectively. Hong Kong Stock Exchanges and Clearing (0388) went up by 0.2 percent.

In Asia, Japan's Nikkei 225 Index once rose 2.18 percent, and South Korea's KOSPI increased by 3.6 percent. Samsung Electronics rose 3.6 percent, and SK Hynix once surged 8 percent.

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