HK market slumps at open, dragged down by Alibaba
Hong Kong stocks fell more than one percent on Friday morning as market heavyweight Alibaba plunged in reaction to news it had called off a planned spinoff of its cloud computing arm. The Hang Seng Index sank 1.4 percent to 17,584. The Shanghai Composite Index lost 0.2 percent to 3,043, and the Shenzhen Composite Index on China's second exchange eased 0.3 percent to 1,910. (AFP)