Hong Kong stocks slid to a seven-week low before a flurry of earnings cards from bellwether companies, as the city’s financial markets opened for business under typhoon conditions for the first time.

The Hang Seng Index fell 1.5% to 19,533.02 in afternoon trading, heading for the lowest close since September 25 in a five-day streak of declines. The Hang Seng Tech Index dropped 2.3%.

In terms of star stocks, XPeng fell 6%; JD.com fell 5%; Bilibili fell 4%; Meituan, NIO, and Xioami fell 3%; Baidu and Alibaba fell 2%. While Tencent narrowed it gains to 0.7%. The Chinese technology posted an 8% rise in third-quarter revenue, extending momentum in its gaming business, while growth in its fintech segments softened amid China's economic headwinds.

Sentiment on Hong Kong stocks took a beating after China fell short of introducing fiscal stimulus anticipated by the market, with the legislature only approving debt sales to fix the woes on local-government’s hidden debts last week. Donald Trump’s victory in the US presidential election added to downbeat sentiment, as the president-elect threatened a 60 per cent tariff on all imports of Chinese products. The Hang Seng Index has dropped 15% from a high on October 7.