hong kong shares opened in the red on wednesday morning asia trade after china’s november factory activity narrowed at a faster pace the official manufacturing purchasing managers index pmi was recorded at 48 against a 492 reading in october reported reuters citing the national bureau of statistics nbs alibaba and nio stocks lost over 15 in opening trade market participants are also maintaining caution ahead of federal reserve chair jerome powell’s speech scheduled later during the day also read how to invest in startups macro news the chinese military has stated it drove away a us guidedmissile cruiser that illegally intruded into waters near the south china seas spratly islands an assertion that has been disputed by the us navy reported reuters the international monetary fund may have to trim its projection for china’s economic growth as covid19related curbs and difficulties in the property sector hang heavy on prospects reported bloomberg imf sees the chinese gross domestic product expanding by 32 this year and 44 in 2023 according to the report company news warren buffettbacked byd co ltd byddf byddy said on tuesday it will launch its cars in mexico next year with a senior executive pegging its sales target at up to 30000 vehicles in 2024 reported reuters alibaba is planning to sell a nearly 3 stake in indian food delivery firm zomato ltd worth 200 million via a block deal reported cnbc awaaz citing sources top gainers and losers techtronic industries company limited and wuxi biologics cayman inc are among the top losers among hang seng constituents having lost over 3 and 15 respectively alibaba health information technology limited and china mengniu dairy company limited are the top gainers having risen over 15 each global news us futures traded in the green on wednesday morning asia session the dow jones futures were up 009 while the nasdaq futures gained 012 the sp 500 futures were trading higher by 011 elsewhere in asiapacific australia’s asx 200 was up 034 japan’s nikkei 225 traded 063 lower while china’s shanghai composite index lost 01 south korea’s kospi rose 037 read next cramer spotlights borodens analysis of sp 500 chart she sees this as a makeorbreak moment