Hong Kong stocks kicked off the fourth quarter sharply lower, with the Hang Seng Index tumbling 513 points as tech heavyweights and bank and insurance shares came under broad selling pressure.
The benchmark Hang Seng Index fell 2.1 percent to 24,099 points, while the tech gauge opened 1.8 percent lower.
HSBC (0005) plunged 5.5 percent, and Hong Kong Exchanges and Clearing (0388) lost 1.5 percent. Insurer AIA (1299) dropped 4.2 percent.
Tech heavyweights declined broadly, with Alibaba (9988) and Tencent (0700) opening 2.3 percent and 2.1 percent lower. Baidu (9888) fell 3 percent, while Xiaomi (1810) and JD.com (9618) slipped 2.5 percent and 2.6 percent, respectively. Meituan (9618) retreated 2 percent.
JD Health (6618) plunged 6.9 percent as the worst-performing blue chip.
New World Development (0017) advanced 9.92 percent in early trading after opening flat. The company announced on Wednesday night that it would terminate the contract early and return the 11 SKIES project to the Hong Kong Airport Authority on April 1 next year.
