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The Hang Seng Index fell 0.1 per cent to 25,471.66 as of 9.46am local time. The Hang Seng Tech Index dropped 0.7 per cent.
On the mainland, the CSI 300 Index climbed 0.9 per cent and the Shanghai Composite Index added 0.3 per cent.
Alibaba Group Holding tumbled 4.1 per cent to HK$126.50 after reporting a 67 per cent slump in quarterly earnings and sluggish revenue growth. Xiaomi sank 6 per cent after launching a new version of its electric vehicle.
Crude oil remained in focus as investors watched fuel prices for clues on whether the US-Israel war on Iran would thrust the world into stagflation or even a recession. Futures contracts on the fuel eased more than 2 per cent on Friday after Israel said it would no longer target energy infrastructure and Iran’s military capability had been degraded. Still, Brent oil traded above US$100 a barrel, a level unsettling investors over higher energy costs.
Other major Asian markets were mixed. South Korea’s Kospi rose 1.1 per cent, while Australia’s S&P/ASX 200 and Taiwan’s Taiex both lost 0.4 per cent. Japan’s market was closed for a holiday.
