At the close of the Hong Kong stock market, the Hang Seng Index fell by 1.89%, and the Hang Seng TECH Index dropped by 3.61%. Alibaba closed down 8.54%, while Z.AI and MINIMAX-W both fell by over 10%

At the close of the Hong Kong stock market, the Hang Seng Index fell by 1.89%, and the Hang Seng TECH Index closed down by 3.61%; Alibaba (09988.HK) fell by 8.54% for the day; Z.AI (02513.HK) and MINIMAX-W (00100.HK) both closed down over 10%