Hong Kong's Hang Seng Tech Index fell sharply in early trading, dropping more than 1%, after rising nearly 1% earlier. The Hang Seng Index was down 0.31%, Hua Hong Grace (01347.HK) fell nearly 7%, Zhipu (02513.HK) fell more than 6%, Sunny Optical Technology (02382.HK) fell more than 5%, and SMIC (00981.HK) fell more than 4%.