Hong Kong stocks stuck in the doldrums as traders look for drivers to boost sentiment

The Hang Seng Index dropped 0.1 per cent to 19,739.88 at 10.10am local time on Friday, on course to end the week lower, having lost 1 per cent. The Hang Seng Tech Index advanced 0.2 per cent. On the mainland, the CSI 300 Index retreated 0.2 per cent and the Shanghai Composite Index added 0.2 per cent.

Among the decliners, technology giant Alibaba Group Holding lost 2.6 per cent to HK$80.80, and Baidu dropped 2.1 per cent to HK$82.30. Short-video platform Kuaishou Technology fell 1.5 per cent to HK$44.50, while e-commence major JD.com eased 0.8 per cent to HK$140.50.

Limiting the gains, social media giant Tencent Holdings rose 1.9 per cent to HK$423.00 and sportswear maker Anta Sports added 1.7 per cent to HK$80.35.

CK Hutchison Holdings lost 0.4 per cent to HK$40.70 following media reports that said its Italian telecommunications unit was being investigated for alleged tax evasion on a €3.4 billion (US$3.6 billion) asset sale to Cellnex Telecom.

Three stocks debuted on Friday. Xiaocaiyuan International gained 2.9 per cent to HK$8.87 in Hong Kong. BBK Test Systems jumped 146 per cent to 95 yuan and Zhejiang Lanyu Digital Technology surged 225 per cent to 78.04 yuan in Shenzhen.