Hong Kong Shares Dip, Summit News Lifts Seoul

Stocks in Hong Kong fell in the morning session on Thursday, in line with a broad sell-off across Asian markets, with technology firms extending losses.

The Hang Seng Index slipped 0.7 percent, to 30,114 by the break.

On the mainland, the benchmark Shanghai Composite Index edged up 0.9 percent, to 3,088, but the Shenzhen Composite Index, eased 1.2 percent, to 1,787.

Most other major markets were in also the red. Sydney and Singapore each dipped 0.1 percent. Manila and Jakarta also sank.

However, Tokyo ended the morning session 0.6 percent higher thanks to a weaker yen, while Seoul jumped more than 1 percent and the won also gained ahead of a historic North-South Korea summit on Friday.

Technology firms again struggled on worries about the smartphone sector, which has seen Apple shares battered over the past week.

A strong earnings report from South Korean titan Samsung provided support to its stocks but it warned about falling demand for high-tech handsets as well as competition from Chinese companies.

Apple supplier LG Display fell 3.6 percent in Seoul and TSMC in Taipei slipped 0.7 percent, while among other tech firms Hong Kong-listed AAC Technologies dived almost 4 percent and Tencent shed 1 percent. (AFP)

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