Hong Kong stocks opened lower and extended losses into midday, with the Hang Seng Index down 0.53% and the Hang Seng Tech Index down 0.91%. Large-cap techs led weakness: Alibaba (09988.HK) down over 3%, Baidu (09888.HK) down over 2%, Meituan (03690.HK) and Xiaomi (01810.HK) down more than 1%. Semiconductor-related names broadly slid: Lanqi Technology (06809.HK) down over 6%, Aixin Yuanzhi (00600.HK) down over 5%, GigaDevice (03986.HK) down over 3%. Biopharma stocks also pulled back, with Ascenta

2026-10-07

Hong Kong stocks opened lower and extended losses into midday, with the Hang Seng Index down 0.53% and the Hang Seng Tech Index down 0.91%. Large-cap techs led weakness: Alibaba (09988.HK) down over 3%, Baidu (09888.HK) down over 2%, Meituan (03690.HK) and Xiaomi (01810.HK) down more than 1%. Semiconductor-related names broadly slid: Lanqi Technology (06809.HK) down over 6%, Aixin Yuanzhi (00600.HK) down over 5%, GigaDevice (03986.HK) down over 3%. Biopharma stocks also pulled back, with Ascentage Pharma (06855.HK) down over 6% and CanSino Biologics (06185.HK) and Zai Lab (09688.HK) each down more than 5% at midday.