Hong Kong stocks tumbled on Friday morning, with the benchmark Hang Seng Index opening 483.75 points lower at 11,814.81.
Hang Seng China Enterprise Index, which tracks the overall performance of 43 Chinese mainland state-owned enterprises on the Hong Kong Stock Exchange, fell 302 points to 5,889.13.
The two largest Chinese oil producers, Sinopec<600028><386> and PetroChina<601857><857> opened 4.00% and 4.62% lower at HK$4.03 and HK$5.09 respectively.
Financial stocks also saw losses at the market opening, with market heavyweight HSBC Holdings Plc<5> and the Industrial & Commercial Bank of China (ICBC)<601398><1398> dropping 1.98% and 4.57% to open at HK$73.40 and HK$3.13 respectively. China Construction Bank (CCB)<601939><939> slid 3.06% to HK$3.45.
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