At the Hong Kong close the HSI fell 0.39% and the Hang Seng Tech Index lost 1.08%. Gold, China property, power equipment and ports & transport outperformed, while battery stocks, large-cap internet names, cloud computing and Chinese banks lagged; Xiyin-W (00625.HK) slid more than 8%.

China’s draft amendment to the Banking Supervision Law has been submitted to the NPC Standing Committee for a second review. The second‑review draft adds a dedicated risk‑resolution chapter, strengthens consumer protection and for the first time legally codifies classified/graded and differential supervision. It instructs banking regulators to grade institutions by type, balance‑sheet scale, risk profile and systemic importance and apply differentiated supervision accordingly. Huang Zhen, director of the Financial Law Research Institute at the Central University of Finance and Economics, said differential supervision must follow a dual logic: permit measured innovation tolerance for well‑governed, soundly risk‑controlled banks, while strictly restricting complex innovation and business expansion at high‑risk institutions.

现货黄金日内涨超100美元，现报4487.56美元/盎司，涨幅2.28%。