Hong Kong stocks closed lower as the Hang Seng Index fell 1.27% to 25,006.16,
while the Hang Seng Tech Index slipped 0.39% to 4,888.58. Market turnover was
HKD 356.345 billion. Telecom equipment, chip and optical-communications names
outperformed; nonferrous metals and CXO-theme stocks lagged. Notable movers:
newly listed 02723.HK jumped 72.4% on its second day of trading; 02513.HK and
ZTE (00763.HK) rose about 13%; 06166.HK and Hua Hong Semiconductor (01347.HK)
Gained over 11%. EVs and consumer names advanced—NIO-SW (09866.HK) +6%, XPeng
(09868.HK) +5.6%, Pop Mart (09992.HK) +4.7%—while Kingboard Laminates
(01888.HK), SMIC (00981.HK) and Lenovo Group (00992.HK) rose c.3%. Decliners
included 03986.HK (-6%+), Meituan (03690.HK) -5.66%, SenseTime (00020.HK) and
Horizon Robotics (09660.HK) down >4.6%, and Alibaba (09988.HK), Baidu
(09888.HK), Tencent (00700.HK) and Bilibili (09626.HK) all off more than 2%.
