Hong Kong stocks opened lower and weakened further, with the HSI briefly falling
below 24,000 intraday — its lowest since July 11, 2025. By the midday close the
HSI was down 1.11% and the Hang Seng Tech Index down 2.01%. Select mainland
property names outperformed: China Res Land (01109.HK) and Longfor Group
(00960.HK) each rose over 4%. Home appliances led gains, with Hisense Home
Appliances (00921.HK) up more than 9%. PCB player Kingboard Laminates (01888.HK)
rallied over 5%, and Ganfeng Lithium (01772.HK) gained over 5%. Beer, water
utilities, coal, agriculture and dairy sectors were active. Techs slid: Alibaba
(09988.HK) fell nearly 5%, Baidu (09888.HK) and JD.com (09618.HK) dropped over
3% each. Robotics, power equipment, solar PV, gold and chip names were weak.
Jitu Express (01519.HK) was down 8.08%.
