Hang Seng fell 0.83% at midday; Hang Seng Tech declined 2.11%. Gold miners outperformed: Chifeng Gold (06693.HK) +14%, Zijin Gold International (02259.HK) +11%, Zijin Mining (02899.HK) +7%. Chip names climbed: Montage Technology (06809.HK) +12%, ZTE (00763.HK) +10%. Power-equipment stocks extended gains—Xinyi Solar (00968.HK) +6%, Harbin Electric (01133.HK) +3%. Paper, nuclear power, ports & shipping, coal, heavy machinery and biopharma sectors were also stronger. Major internet names fell: NetE

Hang Seng fell 0.83% at midday; Hang Seng Tech declined 2.11%. Gold miners outperformed: Chifeng Gold (06693.HK) +14%, Zijin Gold International (02259.HK) +11%, Zijin Mining (02899.HK) +7%. Chip names climbed: Montage Technology (06809.HK) +12%, ZTE (00763.HK) +10%. Power-equipment stocks extended gains—Xinyi Solar (00968.HK) +6%, Harbin Electric (01133.HK) +3%. Paper, nuclear power, ports & shipping, coal, heavy machinery and biopharma sectors were also stronger. Major internet names fell: NetEase-S (09999.HK) -6%, Tencent Holdings (00700.HK) -5%, Kuaishou (01024.HK) -4%; AI, ADAS, new-energy vehicle and battery stocks led sector declines. Company movers: Topsports (06110.HK) -24% after it said online sales of Nike products in mainland China will end next year; Zhipu (02513.HK) -2%; MINIMAX-W (00100.HK) -8%.