Hong Kong stocks fall after Wall Street sell-off

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Hong Kong stocks fall after Wall Street sell-off

On Friday morning, Hong Kong stock prices fell after Wall Street sell-off after a temporary relief rally. Electric vehicle stocks plunged, with Xpeng, Li Auto and Nio falling over 4% in morning trade.

Macro News: China s official manufacturing purchasing managers index rose to 50.1 from 49.4 in August, according to the National Bureau of Statistics.

According to Bloomberg, the Chinese developer of sensor technologies, RoboSense, is raising $150 million in a new funding round.

The top gainers and losers: Li Ning Company Limited and ANTA Sports Products Limited were the top losers among Hang Seng constituents, having lost more than 5% and 3%. CSPC Pharmaceutical Group Ltd. and China Mengniu Dairy Company Ltd. were the top gainers, up over 2% each.

U.S. futures traded mixed in the Asia session on Friday. The Dow Jones futures were down 0.02%, while the Nasdaq futures gained 0.08%. The S&P 500 futures were up 0.1%.

Japan's Nikkei 225 lost 1.79% and China's Shanghai Composite index lost 0.52%. South Korea's Kospi was down 0.49%.