Hong Kong stocks closed lower after an early gain. The Hang Seng Index fell 0.9% to 23,651.87, while the Hang Seng Tech Index slid 1.26% to 3,994.77, under the 4,000 mark. Market turnover was HK$176.6 billion. Lithium battery names plunged; lottery, tobacco and new-consumer sectors underperformed. Biotech and pork stocks outperformed and memory/storage names rebounded. Individual movers: 02477.HK down ~30%; 00068.HK down 13.2%; CATL (03750.HK) down 11.4%; Pop Mart (09992.HK) down 4.8%; Tencent H

Hong Kong stocks closed lower after an early gain. The Hang Seng Index fell 0.9% to 23,651.87, while the Hang Seng Tech Index slid 1.26% to 3,994.77, under the 4,000 mark. Market turnover was HK$176.6 billion. Lithium battery names plunged; lottery, tobacco and new-consumer sectors underperformed. Biotech and pork stocks outperformed and memory/storage names rebounded. Individual movers: 02477.HK down ~30%; 00068.HK down 13.2%; CATL (03750.HK) down 11.4%; Pop Mart (09992.HK) down 4.8%; Tencent Holdings (00700.HK) down >4%, trading below HK$400. Winners included 06809.HK up ~9%, 01952.HK up 6.7%, 06166.HK up 4%, and 03986.HK and Lenovo Group (00992.HK) up about 3%.