Hong Kong Stocks Close 136 Points Lower, Lose 23,000 Level Again; Tech Index Falls Over 2.8% to Fresh More Than Two-Year Low

Hong Kong stocks moved lower in choppy trade on index futures settlement day, with the Hang Seng Index closing at 22,958 points, down 136 points or about 0.6 per cent, losing the 23,000 mark again, while main board turnover exceeded $189.4 billion. The tech index closed at 3,744 points, down more than 2.8 per cent to a fresh more than two-year low, with JD.com, Tencent, Meituan and Alibaba falling nearly 2 per cent to nearly 3 per cent. Chip and AI-related shares pulled back sharply, with MINIMAX, Lenovo Group, Zhipu, Hua Hong and Tianshu Zhixin falling nearly 7 per cent to nearly 9 per cent.