Hong Kong stocks slip as investors await Beijing briefing on economic growth
Hong Kong stocks edged down as investors awaited potential stimulus measures from Chinese authorities in an imminent briefing, amid uncertainty about economic support for the country's recovery and tariff tensions with the US.
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The Hang Seng Index dropped 0.5 per cent to 21,882.57 as of 9.45am local time. The Hang Seng Tech Index lost 0.2 per cent.
On the mainland, the CSI 300 Index slipped 0.2 per cent and the Shanghai Composite Index dropped 0.3 per cent.
BYD Electronic International fell 6.6 per cent to HK$32.45, while electric-vehicle maker BYD slid 4.6 per cent to HK$29.40. Ping An Insurance Group declined 2.2 per cent to HK$44.95, and China Resources Land dropped 3.1 per cent to HK$26.25.
On the flip side, e-commerce giant JD.com rose 1.7 per cent to HK$125.90, Sinopharm gained 2 per cent to HK$17.76 and Wuxi Biologics rose 1.1 per cent to HK$23.05.
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Retail broker Bright Smart Securities surged 34.8 per cent to HK$4.11 after it resumed trading following an announcement that mainland China's online payment giant
Ant Group agreed to buy a controlling stake
Multiple Chinese agencies are set to hold a joint briefing at 10am local time to discuss policies and measures on stabilising employment, ensuring stable growth and promoting high-quality development. The National Development and Reform Commission, Ministry of Human Resources and Social Security, Ministry of Commerce and the People's Bank of China are in the line-up.
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