SHANGHAI, Dec 3 (Reuters) - Hong Kong stocks fell on Friday
as the delisting of ride-hailing giant Didi from New York
spooked investors and stoked a sell-off in tech giants, while
consumer staples helped China shares rise.
The CSI300 index rose 0.4% to 4,872.97 by the end
of the morning session, while the Shanghai Composite Index
gained 0.6% to 3,594.64.
The Hang Seng index dropped 0.7% to 23,612.43. The
Hong Kong China Enterprises Index lost 1.2% to 8,404.87.
** For the week, the CSI300 index edged up 0.3%, while the
Hang Seng index lost 1.9%.
** Didi Global said it will delist from the New
York stock exchange and pursue a listing in Hong Kong,
succumbing to pressure from Chinese regulators concerned about
** Following the announcement, tech firms listed in Hong
Kong slumped more than 2%.
** "This event makes the market believe that the current
industry supervision of technology stocks in the mainland will
continue," said Kenny Ng, a securities strategist at Everbright
Sun Hung Kai in Hong Kong.
** "The decline in the prices of technology stocks listed in
Hong Kong today also reflects this factor."
** Alibaba Group and Bilibili Inc fell
4.6% and 7%, respectively, hitting their record lows.
** Tencent dropped 2.9%, while Meituan
** Property developer China Aoyuan Group slumped
16.8% after the developer warned shareholders that it may be
unable to pay up a $651.2 million debt due to a liquidity
** Activity in China's services sector expanded at a slower
pace in November amid rising inflationary pressures and
continuing small-scale COVID-19 outbreaks, a private survey
** In mainland markets, consumer staples rose 2.1%,
while liquor makers jumped 2.8%.
** Semiconductors and utilities
gained around 2.1% each, while coal miners surged
(Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)