The Hang Seng Index dropped 0.5 per cent to 24,244.98 at the noon break, paring Wednesday’s gains that followed a preliminary US-China trade agreement. The Hang Seng Tech Index dropped 1.1 per cent. On the mainland, the CSI 300 Index was flat and the Shanghai Composite Index added 0.1 per cent.
Horizon Robotics, which makes artificial intelligence chips for self-driving cars, sank 4.6 per cent to HK$7.10 after it said it would sell 681 million shares at HK$6.93 each.
On the upside, Sino Biopharmaceutical surged 15.1 per cent to HK$5.49 after the drug maker said a major overseas-licensing deal could be finalised in the near future. Chinese biotech giant WuXi AppTec rose 4 per cent to HK$77.95, while gold producer Zijin Mining rose 5.7 per cent to HK$20.15.
On Wednesday, US President Donald Trump said he would unveil unilateral tariff rates within two weeks. The S&P 500 index dropped 0.3 per cent and the Nasdaq 100 fell 0.5 per cent overnight. His comments came after the US struck a preliminary trade deal with China; the framework agreement awaits approval from Beijing and Washington.
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