Hong Kong equities dipped 0.25% by midday Thursday, as investor attention shifted towards several high-profile new listings.
The benchmark Hang Seng Index closed down 59 points at 23,581, with the half-day main board turnover reaching HK$110.15 billion. Throughout the morning session, the index fluctuated near the 23,600 level, hitting an intraday high of 23,710 and a low of 23,496 points.
The Hang Seng Tech Index declined 0.62% to 5,348 points, while the Hang Seng China Enterprises Index edged down 0.26% to 8,570 points.
Meanwhile, mainland China markets showed mixed performance: the Shanghai Composite Index remained steady at 3,389 points, whereas the Shenzhen Component Index dropped 1.12% to 10,238 points by midday.
Market movements coincided with significant activity surrounding new listings. Chinese battery manufacturer Contemporary Amperex Technology (CATL) garnered over HK$268.1 billion in margin financing during its bookbuilding phase, which closed at noon today. Additionally, pharmaceutical company Jiangsu Hengrui Pharmaceuticals launched its investor order period, aiming to raise up to HK$9.9 billion through its upcoming listing.
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