Hong Kong shares fall by midday break, Tencent down 2pc

Hong Kong stocks reversed early gains and fell by noon, partly dragged down by a 2 percent decline in Tencent (0700).

The benchmark Hang Seng Index dropped 163 points, or 0.63 percent, to 25,773 at noon.

The half-day market turnover was HK$115.8 billion. 

The Hang Seng Tech Index decreased by 1.27 percent to 4,857 points at noon. 

Zijin Mining (2899) dropped 3.5 percent, while Laopu Gold (6181) retreated 3.3 percent.

Tech heavyweight Tencent also fell 2.1 percent, while Alibaba (9988) inched up 0.32 percent.

In contrast, oil majors rose, with CNOOC (0883) and PetroChina (0857) advancing 3.7 percent and 2 percent.

In the mainland, the Shanghai Stock Exchange Composite Index was down by 0.05 percent to 3,964 points, while the Shenzhen Stock Exchange Component Index increased by 0.65 percent to 14,410 points at the midday close.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓