Hong Kong stocks opened in the red on Friday morning

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Hong Kong stocks opened in the red on Friday morning as investors take a breather following a broadly positive week and after China’s sovereign rating was downgraded by a second agency on fears over its ballooning debt. The Hang Seng Index shed 0.57 percent, or 160.50 points, to 27,949.83, reports BSS.

And the benchmark Shanghai Composite Index slipped 0.32 percent, or 10.65 points, to 3,347.16, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, lost 0.27 percent, or 5.45 points, to 1,989.97.

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