Hong Kong shares close down 344 points at 3-month low as financial and AI-related stocks plunge

Hong Kong shares fell for a second consecutive day, with the Hang Seng Index closing at 23,785, down 344 points or more than 1.4%, marking a 3-month closing low. Mainland stock markets resumed trading after the National Day long holiday and southbound flows resumed, with turnover surging to about $207.3 billion; HSBC, Bank of China, Standard Chartered and BEA fell nearly 5% to nearly 6%, Hua Hong and MINIMAX fell more than 9% and nearly 14% respectively, while mainland property stocks bucked the trend to rise.