HSI Opens 203 pts Lower

Hong Kong stocks opened lower this morning. $Hang Seng Index(800000.HK)$ opened lower by 203 points or 1.2% at 16,758. $Hang Seng China Enterprises Index(800100.HK)$ started lower by 77 points or 1.3% at 5,828. $Hang Seng TECH Index(800700.HK)$ opened 69 points or 1.9% lower at 3,534.

As for mainland property stocks, $CHINA VANKE(02202.HK)$ contracted sales in February plummeted 53.5% YoY, and its shares opened 1.3% lower this morning. $LONGFOR GROUP(00960.HK)$ and $CHINA RES LAND(01109.HK)$ opened 1.6% and 2.4% lower. Realtor $BEKE-W(02423.HK)$ turned from a loss into a full-year profit of RMB5.88 billion, but its shares still opened down 1.6% this morning.

For financial stocks, $HSBC HOLDINGS(00005.HK)$ opened 0.7% lower, while $HKEX(00388.HK)$ and $AIA(01299.HK)$ opened 1.7% and 1.1% lower respectively. $PING AN(02318.HK)$ subsidiary Ping An Bank logged a 2.1% profit increase for last year, but PING AN shares still opened falling 1.8% along with the market.