Hong Kong’s Hang Seng Index fell 0.7% and the Hang Seng Tech Index dropped
1.63%. AI application stocks led declines, with Zhipu down nearly 15% and
MiniMax-W off more than 10%.
Chipmakers broadly weakened, including Fudan Micro down over 7%, Hua Hong
Semiconductor off more than 5% and SMIC down over 3%, while heavyweight tech
names such as Xiaomi and Alibaba each fell more than 3%.
Automakers outperformed, with Chery Auto surging over 15%, Geely Auto up more
than 8% and Great Wall Motor gaining over 7%.
