The Hang Seng Index slipped 0.4%, or 96 points, to 25,372 on Wednesday, as sentiment stayed cautious amid a selloff in US technology stocks, elevated bond yields, higher oil prices, and renewed tensions in the Middle East.
In a supportive policy move, China’s financial regulator approved a plan allowing mainland insurance funds to invest in Hong Kong-listed ETFs via Stock Connect, a step that could channel additional mainland institutional capital into Hong Kong equities.
On the corporate front, China Unicom fell about 10% after reporting a first-half net profit attributable to shareholders of RMB 9.5 billion, down 34.6% year-on-year, even as operating revenue inched up 0.6% to RMB 201.4 billion. Among other major names, Tencent (-0.7%), SMIC (-1.4%), Lenovo (-1.2%), and Kingboard Laminates (-3.4%) weighed on the index, while Xiaomi advanced 4.4%.
Investors are also awaiting HKEX’s interim results due later today, putting the exchange operator’s shares in focus.
