The Hang Seng Index opens 0.77% down, the China Enterprises Index down 0.87%, and the Hang Seng Tech Index down 1.02%.
Technology heavyweights are trading lower across the board, with NetEase and Meituan down nearly 2%, JD.com and Xiaomi down over 1%, while Alibaba and Tencent down close to 1%. After recent gains, auto stocks open lower, with Li Auto and Geely Auto both down over 2%. Rare-earth stocks, which saw pullbacks yesterday, continued to decline, along with shipping, airline, and building materials stocks.
Yum China opens up 5.66% following a stronger-than-expected third-quarter earnings report. Electricity stocks, defense stocks, and some mainland real estate developers gained as well. Sunac China rose 2.45% on report that the company is communicating with creditors regarding a second round of restructuring for its domestic debt.