Hang Seng closed down 1.59% and the Hang Seng TECH Index fell 1.39%; turnover HK$358.7bn. The index slid as much as 557 points intraday to 23,749, breaking below the 24,000 level. PCB and recently listed AI names extended a one-week rally; storage, semiconductors and domestic retail continued to gain; biotech and innovative-drug stocks staged a choppy rebound. Base metals, gold, insurers and internet/tech names plunged; property developers and heavy-equipment names underperformed; tourism and oi

Hang Seng closed down 1.59% and the Hang Seng TECH Index fell 1.39%; turnover HK$358.7bn. The index slid as much as 557 points intraday to 23,749, breaking below the 24,000 level. PCB and recently listed AI names extended a one-week rally; storage, semiconductors and domestic retail continued to gain; biotech and innovative-drug stocks staged a choppy rebound. Base metals, gold, insurers and internet/tech names plunged; property developers and heavy-equipment names underperformed; tourism and oil & gas stocks fell for a multi-day stretch. Notable movers: CAOCAO (02643.HK) down >15%, China Overseas Development (00688.HK) down 9%, CHINA RES LAND (01109.HK) down 7.3%; Zhipu (02513.HK) up >26% to a record high, MINIMAX-W (00100.HK) up >12%.