Hong Kong stocks fell on Thursday, with the $Hang Seng Index (800000.HK)$ losing 1.23% in opening trade. China's factory activity shrank for the first time in three months in August. The Caixin/Markit manufacturing purchasing managers' index (PMI) fell to 49.5 in August against 50.4 in July, reported Reuters.
Shares of Meituan, Nio, and XPeng fell over 2% each.| Stock | Movement |
|---|---|
| $BABA-SW (09988.HK)$ | -0.85% |
| $JD.com, Inc.-SW (09618.HK)$ | -0.08% |
| $BIDU-SW (09888.HK)$ | 0.78% |
| $TENCENT (00700.HK)$ | -0.31% |
| $Meituan-W (03690.HK)$ | -3.64% |
| $NIO-SW (09866.HK)$ | -2.08% |
| $XPENG-W (09868.HK)$ | -2.65% |
| $Li Auto-W (02015.HK)$ | -1.22% |
Company News: Alibaba's Lazada Group is getting ready for its maiden foray into Europe to take on rivals such as $Amazon (AMZN.US)$ and $ZALANDO SE UNSP ADR EACH REPR 0.5 ORD (ZLNDY.US)$, reported Bloomberg.
Chinese tech giant Tencent Holdings has set a soft target of divesting close to RMB 100 billion ($14.5 billion) of its $88 billion listed equity portfolio this year, reported The Financial Times.
Top Gainers and Losers: Meituan and $WUXI BIO (02269.HK)$ were the top losers on Hang Seng, while Techtronic Industries Co Ltd and Hengan International Group Co Ltd were the top gainers in opening trade.
Global News: U.S. futures traded in the red on Thursday morning Asia session. The Dow Jones futures were down 0.43%, while the Nasdaq futures lost 1.12%. The S&P 500 futures shed 0.686%.
Elsewhere in Asia, Australia's ASX 200 lost 1.95%. Japan's Nikkei 225 was down 1.66%, while China's Shanghai Composite index was trading flat. South Korea's Kospi shed 1.68%.