The Hang Seng Index fell 0.2 per cent to 25,891.73 as of 10.15am local time. The Hang Seng Tech Index gained 0.1 per cent.
On the mainland, the CSI 300 Index and the Shanghai Composite Index both rose 0.1 per cent.
Meituan slipped 0.4 per cent to HK$103.60 before its earnings card later on Friday. Tencent Holdings dropped 0.3 per cent to HK$609.50, and bottled water maker Nongfu Spring declined 2.2 per cent to HK$49.32.
Hong Kong stocks are set to close out a month marked by wild swings alongside global markets, eking out a loss of 0.5 per cent in November. Stocks got hammered by a retreat in risk appetite amid jitters about elevated valuations of AI stocks before firm bets on a rate reduction by the Federal Reserve in December reversed sentiment. Rates traders now price an 80 per cent probability of a Fed cut next month.
With rate-cut optimism almost priced into perfection, investors are gearing up for the coming data on the purchasing managers’ index (PMI), the leading indicators that will offer clues on the strength of China’s economy in November.
