Hang Seng slips at open as Alibaba, Tencent slide — yet Hong Kong stocks eye best month in four
The Hang Seng Index fell 1.5% to 27,545 on Friday, ending a seven-session rally as traders took profits after a multi-year high. Alibaba dropped 1.9% and Tencent lost 1.1%, while materials stocks led declines. Investors await China’s official factory PMI on Saturday, with forecasts pointing to little change from December. Property shares rose this month on reports of eased borrowing limits for developers.