HSI ends down 288 pts at 21,099 midday; turnover at HK$35bn

    HK stocks closed sharply lower on Friday morning session following the slide of the Dow overnight on poor corporate earnings. The benchmark index opened down 172 points at 21,215. It then saw its losses widen to 300 points.
  The Hang Seng Index ended down 288 points or 1.3% to 21,099. The H-share index fell 103 points or 1% to 8,957. Half-day turnover reduced to HK$35 billion from HK$39.7 billion on Thursday.
  The northbound quota balance of the "Shanghai-HK Connect" program was RMB12.875 billion, accounting for 99% of the daily allowed quota of RMB13 billion. By 11:33 a.m., the southbound quota balance was RMB10.101 billion, accounting for 96.2% of the daily allowed quota of RMB10.5 billion.
  PetroChina (00857) reported the worst quarterly loss of RMB13.8 billion. It slid 3.4% to HK$5.72. Sinopec (00386) also fell 2% to HK$5.49 even though its 1Q earnings doubled. CNOOC (00883) dipped 3% to HK$9.58.
  ICBC (01398) announced its 1Q net profit growth of barely 0.6% to RMB74.8 billion. It softened 1.2% to HK$4.22. CCB (00939) slipped 1.4% to HK$5. CM Bank (03968) outperformed peers, rising 3% to HK$17.92. Its 1Q earnings grew 6.6%.
  Lenovo (00992) plunged 3.6% to HK$6.17. It was the worst blue-chip loser in the morning.
  Chinese airlines were lower despite higher earnings reports. China East Air (00670) declined 1.8% to HK$4.3. Its 1Q earnings soared 66%. Air China (00753) reported earnings growth of 45%, but dropped 3.9% to HK$5.94. China South Air (01055) edged down 0.8% to HK$4.85. Cathay Pacific (00293) rebounded 1.2% to HK$12.34. It was the best blue-chip gainer in the morning.