Hong Kong equities turned lower after a brief early rally; at midday the Hang Seng Index was down 0.47% and the Hang Seng Tech Index fell 1.42%. Large-cap internet names underperformed: Baidu (09888.HK) dropped over 10% intraday, while Alibaba (09988.HK), Tencent (00700.HK) and Xiaomi (01810.HK) were all trading lower at the half-day mark. Memory-chip, optical-communications and PCB stocks opened higher then slid—Fudan Microelectronics (01385.HK) and Hua Hong Hongli (01347.HK) fell nearly 6%, an

Hong Kong equities turned lower after a brief early rally; at midday the Hang Seng Index was down 0.47% and the Hang Seng Tech Index fell 1.42%. Large-cap internet names underperformed: Baidu (09888.HK) dropped over 10% intraday, while Alibaba (09988.HK), Tencent (00700.HK) and Xiaomi (01810.HK) were all trading lower at the half-day mark. Memory-chip, optical-communications and PCB stocks opened higher then slid—Fudan Microelectronics (01385.HK) and Hua Hong Hongli (01347.HK) fell nearly 6%, and Changguang Chenxin (03277.HK) dropped more than 5%. Chinese brokerages, biotech and solar sectors were mostly weaker. Oil stocks rose on escalation in US–Iran tensions: PetroChina (00857.HK) gained over 3% and CNOOC (00883.HK) rose more than 2%.