The three major indices of Hong Kong stocks opened lower in the morning session. The Hang Seng Technology Index plummeted to 2.2% near midday trading and fell 1.87% in the afternoon. The Hang Seng Index and the State-owned Enterprises Index fell 1.75% and 1.16% respectively, and the Hang Seng Index broke 25,500 points. Most of the large tech stocks that have rebounded continuously are sluggish. Baidu and Alibaba fell more than 3%, Xiaomi and Jingdong fell more than 2%, Tencent fell 1.8%, and Meituan and NetEase followed the decline. According to reports, China began taxing Hong Kong insurance earnings by 20%, and insurance stocks plummeted. Affected by the sharp drop in peripheral chip stocks, storage semiconductor stocks collectively declined. Furthermore, the price of gold rose sharply, gold stocks led the strengthening of non-ferrous metals stocks, and Optical Communications rebounded, which plummeted yesterday.

The three major indices of Hong Kong stocks opened lower in the morning session. The Hang Seng Technology Index plummeted to 2.2% near midday trading and fell 1.87% in the afternoon. The Hang Seng Index and the State-owned Enterprises Index fell 1.75% and 1.16% respectively, and the Hang Seng Index broke 25,500 points. Most of the large tech stocks that have rebounded continuously are sluggish. Baidu and Alibaba fell more than 3%, Xiaomi and Jingdong fell more than 2%, Tencent fell 1.8%, and Meituan and NetEase followed the decline. According to reports, China began taxing Hong Kong insurance earnings by 20%, and insurance stocks plummeted. Affected by the sharp drop in peripheral chip stocks, storage semiconductor stocks collectively declined. Furthermore, the price of gold rose sharply, gold stocks led the strengthening of non-ferrous metals stocks, and Optical Communications rebounded, which plummeted yesterday.