Hong Kong Equities Trade Lower, As Tech & Property Underperform

Hong Kong equities have opened slightly lower Thursday, following the previous day's healthy gains, as investors now looking ahead to a busy day of US Data while also treading cautiously heading into next week's return of China Mainland Equities and potential further policy announcements from China.

• As trading in Hong Kong gets underway, there has been little in the way of notable market headlines, as China remains out for Lunar New Year holiday. The Hang Seng is lower by 0.60% as Tencent declines 0.70%, while the mainland property index falls 3.11% after Longfor Group declines 3.60%, the property index is just holding above all time lows of 1075.11 made in January despite multiple China policy announcements to support the troubled sector, elsewhere HS Tech index trades 0.90% lower.
• In other China & Hong Kong equity news, Michael Burry, made famous from the movie "The Big Short", has been adding to his exposure to Chinese Tech stocks recently betting on a recovering, while China's state media have reported that hotel sales at major e-commerce platforms have surged more than 60% from a year earlier.