The Hang Seng Index fell 0.7 per cent to 23,866.86 at the noon trading break, though it was still heading for a small weekly gain following a temporary de-escalation of US-China trade tensions. The Hang Seng Tech Index fell 2.1 per cent. On the mainland, the CSI 300 Index dropped 0.8 per cent and the Shanghai Composite Index retreated 0.7 per cent.
Sino Biopharmaceutical pared its Thursday gains by falling 4.9 per cent to HK$5.41. Electric-vehicle maker BYD lost 4.1 per cent to HK$128.90 and peer Geely Auto fell 2.6 per cent to HK$16.30.
Tech stocks also slumped: Meituan lost 2.8 per cent to HK$137.10, Xiaomi dropped 1.7 per cent to HK$51.30 and Alibaba Group Holding, owner of the Post, retreated 1.8 per cent to HK$112.60.
On the upside, Chow Tai Fook Jewellery Group jumped 9.3 per cent to HK$13.42 after it reported better-than-expected net income for its financial year that ended in March. Property stocks traded higher: China Resources Land rose 1.9 per cent to HK$27.10, Henderson Land Development rose 1.2 per cent to HK$25.65 and Hang Lung Properties gained 1.4 per cent to HK$6.68.
State-owned China National Offshore Oil Corporation gained 2.2 per cent to HK$18.72 and PetroChina rose 1.9 per cent to HK$7.41 on rising oil prices. Gold producer Zijin Mining added 1.5 per cent to HK$20.30.
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