"Hong Kong Stocks" The Hang Seng Index fell 304 points in the half-day, financial stocks weakened, AIA dropped nearly 5%

U.S. tech stocks were under pressure, with the Dow Jones closing down 1.2% overnight, and Hong Kong stocks fell in the morning session. The Hang Seng Index opened 530 points lower, initially dropping 590 points to a low of 26,295 points before narrowing the decline, closing down 304 points or 1.1% at 26,580 points; the National Index fell 47 points or 0.5% to 9,045 points; the Hang Seng Tech Index dropped 25 points or 0.5% to 5,380 points. The total turnover of the market for the half-day was HKD 139.462 billion.

Financial stocks declined, with HSBC Holdings (00005.HK) and AIA (01299.HK) falling 3.3% and 4.9%, Standard Chartered (02888.HK) down 2.9%, and Hong Kong Exchanges and Clearing (00388.HK) down 1.5%. Among brokerage stocks, CITIC Securities (06030.HK), CITIC Construction Investment (06066.HK), and China Galaxy (06881.HK) fell between 2.1% and 2.6%. Local property stocks such as Cheung Kong Holdings (01113.HK), New World Development (00017.HK), and Henderson Land Development (00012.HK) dropped 2% to 2.5%.

The commodity market continued to fluctuate, with China Silver (00815.HK) and Shandong Gold (01787.HK) down 1.6% and 1.4%, while China Molybdenum (03993.HK) and Minmetals Resources (01208.HK) fell 1.8% and 2.2%.

Meituan (03690.HK) fully acquired Dingdong Maicai's grocery e-commerce company for an initial cost of USD 717 million, with its stock price dropping 1.9% to HKD 92. In other tech stocks, Tencent (00700.HK) and Baidu (09888.HK) fell 0.9% and 1%, while Alibaba (09988.HK), JD.com (09618.HK), and NetEase (09999.HK) dropped between 2.1% and 2.6%. Bilibili (09626.HK) and Kuaishou (01024.HK) fell 1.5% and 1.7%.

In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) rose 1.4% and 1.6%, while chip equipment stock ASMPT (00522.HK) increased by 2.2%. Fiber optic cable stock Changfei Fiber Optic (06869.HK) rose 10.2%. AI and software stocks continued to be under pressure, with Kingdee (00268.HK) and Meitu (01357.HK) down 3.8% and 3.4%, Zhizhu (02513.HK) down 6.6%, and Inspur Intelligent (03696.HK) and MINIMAX (00100.HK) each falling over 4%.

Automobile stocks rose, with Geely (00175.HK) and Xiaomi (01810.HK) up 1.7% and 1.5%, BYD (01211.HK) rising 2.7%, and Li Auto (02015.HK) and Leapmotor (09863.HK) increasing by 5.3% and 5%, while Nio (09866.HK) rose 7.2% Battery stock CATL (03750.HK) rose 2.5% to over HKD 505.

Gambling stock MGM China (02282.HK) reported an adjusted EBITDA increase of over 10% year-on-year to a record high of HKD 10.005 billion, but its stock price fell 2.7%. Wind power stock Goldwind (02208.HK) stated that all business operations in the EU market are proceeding normally, and the operations are running smoothly, with the stock rebounding 2.1%. Pharmaceutical stock Innovent Biologics (09969.HK) surged 11.1%. In the consumer sector, Pop Mart (09992.HK) rose 0.7%, while Miniso (09896.HK) fell 3.6%