Hong Kong stocks fall at midday; Hang Seng Index drops 0.76% on tech weakness
Hong Kong stocks fell at midday on September 23, with the Hang Seng Index dropping 0.76% to 24,896.04 and the Hang Seng Tech Index falling 0.97% to 4,395.32. Major tech stocks including Alibaba, Tencent, and Xiaomi each declined over 2%. PCB concept stocks and Chinese property developers gained, with Ronshine China surging 19%. Application software stocks led losses after US AI labs released lower-priced models.
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Hong Kong Stocks Fall at Midday; Hang Seng Index Drops 0.76% on Tech Weakness
Hong Kong stocks opened higher but reversed lower in morning trading on September 23, with the Hang Seng Index falling back below the 25,000-point level. The index dropped over 200 points intraday to a low of 24,836.16 before closing the morning session at 24,896.04, down 0.76%. The Hang Seng Tech Index also weakened, falling 0.97% to 4,395.32, pressured by declines in tech and internet stocks. Total turnover on the Hang Seng Index reached HK$98.815 billion. Sector-wise, PCB concept stocks led gains, while biotechnology and mainland property stocks performed actively. On the downside, AI application, tech/internet, and optical communication sectors led losses. Notable individual movers included CanSino Biologics up 10.34%, Vanke Enterprises up 4.8%, and Shenghong Technology up 2.95%. Major tech names declined, with Alibaba down 2.87%, Tencent down 2.3%, Zhipu down 6.87%, and Zhongji Innolight down 1.89%.
Read sourceHong Kong stocks fall; tech shares weak, property stocks strong; AI price war hits software sector
Hong Kong's three major stock indices fell at midday on September 23. The Hang Seng Index dropped 0.76% to 24,896.04, the Hang Seng Tech Index fell 0.97%, and the Hang Seng China Enterprises Index lost 0.73%. Tech and internet stocks were broadly lower, with Alibaba, Xiaomi, and Tencent each falling over 2%. PCB concept stocks led gains, with Kingboard Laminates rising over 5% as multiple brokerages noted that the cost transmission mechanism from upstream raw materials through midstream copper-clad laminates to downstream PCBs has been fully unblocked, with Q3 2026 expected as the inflection point for industry-wide profit improvement. Chinese property stocks were strong, with Ronshine China surging over 19%. Open Source Securities said that after the August 28 policy package, local authorities are intensively studying implementation details, with clearer rules expected by Q4 2026, and maintained a 'positive' rating on the sector, seeing room for further relaxation in core city restrictions, provident fund loans, and urban renewal. Application software stocks led declines, with Zhipu falling over 6%, after two major US AI labs—Anthropic and OpenAI—released lower-priced versions of their flagship models on Tuesday, cutting costs by 40% and 50% respectively. Separately, media reported that Chinese AI startup DeepSeek will brief the UN Security Council on AI risks this week.
Hong Kong Stocks Fall at Midday; Tech and Property Sectors Diverge
Hong Kong stocks ended the morning session lower on September 23, with the Hang Seng Index falling 0.76% and the Hang Seng Tech Index dropping 0.97%, according to financial news outlet Cailianshe. Large technology stocks were broadly down, with Alibaba, Xiaomi, and Tencent each losing over 2%. In contrast, PCB (printed circuit board) concept stocks gained, led by Kingboard Laminates which rose nearly 6%, and Shengyi Technology which added nearly 3%. Chinese property developers showed strong performance, with Ronshine China surging 19%, Vanke rising nearly 5%, and Sunac China and CIFI Holdings both gaining over 3%. The report reflects a mixed session where tech weakness was offset by strength in PCB and property sectors.
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Hong Kong Stocks Fall at Midday; Hang Seng Index Drops 0.76% Led by Weichai Power
Hong Kong stocks declined in midday trading on September 23, with the Hang Seng Index closing at 24,896.04 points, down 191.71 points or 0.76%. The Hang Seng Tech Index fell 42.89 points or 0.97% to 4,395.32. Among Hang Seng Index constituents, China Resources Land, China Overseas Land & Investment, and Lenovo Group posted the largest gains, while Weichai Power, Alibaba-W, and Laopu Gold were the biggest decliners. In the Hang Seng Tech Index, NIO-SW, Lenovo Group, and Li Auto-W led the gainers, while Tianshu Zhixin, Zhipu, and MINIMAX-W were the top losers. The report is based on AI-generated content and does not constitute investment advice.
Read sourceHong Kong Stocks Fall at Midday; Hang Seng Index Down 0.76%
Hong Kong stocks declined at midday on September 23, with the Hang Seng Index falling 0.76% and the Hang Seng Tech Index dropping 0.97%, according to a report from People's Financial Information. Major technology and internet stocks saw broad losses, with Alibaba, Xiaomi Group, and Tencent Holdings each falling over 2%. The report provides a snapshot of the morning trading session, reflecting a negative sentiment in the Hong Kong market driven by weakness in large-cap tech names.
Read sourceHong Kong Stocks Fall at Midday; Hang Seng Index Down 0.76%, Tech Index Down 0.97%
Hong Kong stocks declined at midday on September 23, with the Hang Seng Index falling 191.71 points, or 0.76%, to 24,896.04. The Hang Seng Tech Index dropped 42.89 points, or 0.97%, to 4,395.32. Among Hang Seng Index constituents, China Resources Land, China Overseas Land & Investment, and Lenovo Group posted the largest gains, while Weichai Power, Alibaba-W, and Laopu Gold saw the steepest declines. In the Hang Seng Tech Index, NIO-SW, Lenovo Group, and Li Auto-W led the gainers, while Tianshu Zhixin, Zhipu, and MINIMAX-W were among the biggest losers. The report is attributed to Hafu Securities and carries a disclaimer noting it is AI-generated and not investment advice.
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