Hong Kong-listed tech stocks fell sharply in the short term, with Bilibili (09626.HK) dropping more than 7%, NetEase-S (09999.HK), Baidu (09888.HK), and Kuaishou (01024.HK) all falling more than 5%. Alibaba (09988.HK), JD.com (09618.HK), and Tencent Holdings (00700.HK) also followed suit.