Hang Seng Index Closes Down 1.43%, Hang Seng Tech Index Falls 2.89%

36Kr reports that the Hang Seng Index closed down 1.43% and the Hang Seng Tech Index fell 2.89%. The semiconductor sector led the decline, with Biren Technology dropping more than 11%, Hua Hong Macro Power falling over 9%, GigaDevice and Langchuan declining more than 7%, and SMIC and Ligentech down more than 6%. Hardware equipment stocks also suffered significant losses, with Hygon Core Zheng falling more than 13%, Lenovo Holdings dropping over 9%, and Guanghe Technology declining more than 8%. Large model concepts saw MINIMAX-W fall more than 13% and Zhipu AI drop over 7%. Coal and oil & petrochemicals led gains, with China Port Oil rising more than 25% and China Shenhua up over 3%. Southbound funds net bought HK$6.477 billion.