Hang Seng Index opened near +200 points, then drifted lower, erasing gains by
midday; at noon the HSI was down 0.02% at 25,647.24, while the Hang Seng Tech
Index fell 0.24% to 4,862.32. Turnover totaled HKD 1,50.86 bln. Semiconductors
extended multi-day strength; the airlines group recovered; Chinese brokerage and
autos were notable outperformers; tech names mixed; AI-related names weaker.
Stock movers: SMIC up 2.4%; SERES International Holdings Limited up 5.84%; China
Merchants Securities Co., Ltd. up 3.96%; Air China Ltd. up 5.69%; Bilibili Inc.
down 6.99%; Zhipu down 4.82%.