Hong Kong stocks closed lower; HSI fell 1.82% and the Hang Seng Tech Index dropped 3.3%. Total turnover HKD 334.36 billion. Sector action: storage, PCB, nonferrous metals, chip and AI names weakened; tea beverages, pharmaceuticals and mainland banks outperformed. Notable movers: 02005.HK up >7%; 00175.HK (Geely) and 02097.HK up >2%; 00100.HK MINIMAX-W down >16%; 06809.HK and 02476.HK down >12%; 03993.HK (China Molybdenum) down >10%.

On the 22nd the U.S. National Transportation Safety Board said it has opened an investigation into a near-collision between two airliners at Boston Logan International Airport that occurred on the 20th; the Federal Aviation Administration is also investigating. A Delta Airbus A319 (flight DL2351) from Dallas aborted its landing and executed a go-around to avoid an American Airlines Boeing 737-800 departing from a crossing runway. DL2351 carried 129 passengers and six crew and later landed safely. American Airlines has not commented. The U.S. Senate will hold a special hearing on aviation safety and runway incursions on the 23rd and has listed this incident for discussion.

Chinese authorities are drafting a targeted policy to support digital cultural exports covering online literature, web dramas, online games, animation and digital music; the draft is currently out for public consultation. Digital cultural products have gained global traction and become a growing export engine. China’s service exports rose 15% YoY in Jan–Apr, with personal cultural and entertainment services up 39.5%. Policy support and industry development have lifted the international competitiveness of Chinese services.