Hang Seng Index hits two-week low

Hong Kong stocks extended their slump on Tuesday, falling to the lowest in more than two weeks. 

The benchmark Hang Seng Index dropped by 331 points, or 1.3 percent, to 25,434 points. 

The market turnover was HK$210 billion.

The Hang Seng Tech Index declined by 1.9 percent to 5,554 points. Labubu doll maker Pop Mart International (9992) sank 5 percent to the lowest in six months. 

Shares of Xiaomi (1810) and Baidu (9888) both slid more than 3 percent. 

Semiconductor stocks plunged, with Semiconductor Manufacturing International Corporation (0981) and Hua Hong Semiconductor (1347) losing over 4 percent and 5 percent, respectively, following news that the US will allow shipments of Nvidia's H200 chips to China. 

In the mainland, the Shanghai Stock Exchange Composite Index fell 0.37 percent to 3,909 points and the Shenzhen Stock Exchange Component Index dropped 0.39 percent to 13,277 points at the close.