The Hang Seng Index fell 1.6 per cent to 25,473.09 at the noon break, stretching the loss to 3.1 per cent for the week. The Hang Seng Tech Index lost 2.8 per cent.
On the mainland, the CSI 300 Index slid 1.3 per cent and the Shanghai Composite Index retreated 1 per cent.
BYD Electronics International slumped 6.6 per cent to HK$38.38 and Chinese chipmaker Semiconductor Manufacturing International Corp sank 5.1 per cent to HK$70.10. Alibaba Group Holding slid 3.2 per cent to HK$156.10 and Tencent Holdings lost 1.5 per cent to HK$610.50. Hansoh Pharmaceutical Group defied the sell-off, rallying 3.6 per cent to HK$37.02 after granting Swiss drug maker Roche a license to develop a new drug.
The week-long turmoil on Hong Kong stocks underscored the shift of sentiment and growing pressure on investors to book profits after the Hang Seng Index gained more than 30 per cent this year to make it among the best-performing benchmarks globally. Official data also this week showed that China’s deflationary trend persisted into September and the migration of household savings to equities slowed its pace.
