After a U.S. session that rallied then faded and a strong China Golden Dragon Index, Hong Kong opened higher but reversed midday as AI and storage names sold off. Hang Seng opened +64 at 25,271, peaked +233 at 25,440, then slid to 25,074 (down 0.11% at midday); Hang Seng Tech was up 0.16%. Turnover HKD 140.55 bln. Sector winners: gaming software, non‑alcoholic beverages and catering; film entertainment and autos extended gains; education and road transport rebounded. Sector laggards: storage, AI

After a U.S. session that rallied then faded and a strong China Golden Dragon Index, Hong Kong opened higher but reversed midday as AI and storage names sold off. Hang Seng opened +64 at 25,271, peaked +233 at 25,440, then slid to 25,074 (down 0.11% at midday); Hang Seng Tech was up 0.16%. Turnover HKD 140.55 bln. Sector winners: gaming software, non‑alcoholic beverages and catering; film entertainment and autos extended gains; education and road transport rebounded. Sector laggards: storage, AI newcomers, PCB names, semiconductors and power equipment fell sharply. Selected movers: Horizon Robotics (09660.HK) +5%+, NetEase (09999.HK) +4%+, JD.com (09618.HK) +3%+; Laopu Gold (06181.HK) -22%+, Zhipu (02513.HK) -16%+, MiniMax (00100.HK) -11%+, Hua Hong Hongli (01347.HK) -6.5%+, CATL (03750.HK) and Chow Tai Fook (01929.HK) each down >4%.