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The Hang Seng Index added 0.2 per cent to 25,821.75 as of 11.24am local time, fluctuating in morning trading. The Hang Seng Tech Index rose 0.9 per cent.
On the mainland, the CSI 300 Index gained 0.3 per cent and the Shanghai Composite Index was little changed.
Electric vehicle maker Li Auto slumped 2.9 per cent to HK$67.70 on news the stock would be removed from the FTSE China indexes. Chinese sportswear maker Li Ning lost 1.1 per cent to HK$16.83 and garment maker Shenzhou International Group slid 2.9 per cent to HK$68. Industrial and Commercial Bank of China declined 1.9 per cent to HK$6.20 as the stock went ex-dividend, meaning that buying into the stock since Thursday would not be entitled to an interim dividend of 0.1434 yuan.
On the upside, gold producer Zijin Mining Group advanced 3.2 per cent to HK$33.82, mirroring recent gains in the price of the precious metal.
Hong Kong’s stocks are taking a respite after an about 30 per cent gain in the Hang Seng Index this year – among the world’s best-performing benchmarks globally. With the year end approaching, investors are holding off on bets until they get a clear policy signal on how China plans to reflate its economy and stem the downturn in the property market next year. They have also turned cautious before policy meetings by the Federal Reserve and the Bank of Japan in the coming weeks. The Fed will need to balance a cooling labour market with sticky inflation, while a rate hike in Japan would probably roil global financial markets by unwinding the yen carry trade.
