After a light open the Hang Seng Index slid more than 200 points, closing the mid-session down 0.81% at 25,048.57; the Hang Seng Tech Index underperformed, down 1.23% at 4,914.07. Market turnover was HKD 149.76 bln. Semiconductors broadly retreated, led by memory chips; autos and power-equipment stocks were among the biggest decliners, while telecom-equipment names outperformed and pharmaceuticals rallied intraday. New listing Tianchen Biotech (01779.HK) gained 44.7%, ZTE Corp (00763.HK) rose 8.

As of June 4, Shanghai Stock Exchange margin financing stood at CNY1.476743 tln, up CNY2.499 bln from the previous trading day; Shenzhen Stock Exchange at CNY1.414148 tln, up CNY4.067 bln. Combined margin balances were CNY2.890891 tln, up CNY6.566 bln.

The Ministry of Industry and Information Technology General Office issued a notice launching a provincial collaborative pilot for 6G innovation. It targets potential 6G scenarios — immersive communications, industrial manufacturing, low‑altitude economy, embodied intelligence and smart ocean — and calls for policy, data, talent and capital support. The plan seeks stronger guarantees on approvals, spectrum allocation and land use and advocates localised cultivation of application scenarios. Vertical industry firms will work with telecom companies to validate 6G applications and security solutions and to explore new application demands. SMEs are encouraged to engage in requirement discovery and business‑model trials to promote 6G application development.