STOCKS | Hang Seng Index Flat At Midday As Haidilao Slumps On Stake Sale

Hong Kong stocks were little changed at midday after a Houthi attack on energy facilities in southern Saudi Arabia pushed oil prices higher and kept Brent crude near the $100 mark, according to ETNet. The Hang Seng Index was at 25,316, down less than 1 point, while the Hang Seng China Enterprises Index fell 2 points to 8,394 and the Hang Seng Tech Index slipped 25 points to 4,429. Mainboard turnover topped HK$107.3 billion, and southbound inflows were about HK$3.141 billion. Haidilao fell 9.4% to HK$10.31 after a major shareholder sold 259 million shares for HK$2.751 billion, which is expected to be the completion of a disposal by Zhang Yong's wife, Shu Ping. Mainland August economic data also showed a recovery, with CPI up 0.8% year on year and PPI rising 3.8%, both stronger than expected. Consumer, auto and property shares were under pressure, while internet stocks were mixed. Weichai Power rose 6.4% to lead blue chips, and Tencent, Alibaba and Haidilao were the three most traded Hang Seng stocks. In the Hang Seng Tech Index, Tencent, Alibaba and MiniMax were the most active names.