Hang Seng Index Falls 263 Points at Half-Day; AI Concept Stocks Under Pressure as Domestic Demand and Utility Stocks Favoured

A sharp overnight fall on Wall Street dragged down Asia-Pacific stock markets. The Hang Seng Index fell nearly 450 points this morning before closing the half-day session at 24,533 points, down 263 points or about 1.1 per cent, with turnover exceeding $150 billion. AI large-model and AI hardware stocks came under pressure, with Zhipu, Tianshu Zhixin and MINIMAX falling more than 8 per cent and Lenovo Group down nearly 6 per cent. Funds flowed into domestic demand and selected utility stocks, with Li Ning rising nearly 4 per cent as the best-performing Hang Seng Index constituent.