Hong Kong stocks once lost the key 23,000-point mark in the afternoon trading session on Thursday, despite a global AI rally across major stock markets.
The benchmark Hang Seng Index dropped by over 430 points to 22,978 points at one point in the afternoon. It closed 335 points, or 1.4 percent, lower to 23,076 points.
The market turnover was HK$325.8 billion.
The Hang Seng Tech Index declined by 1.6 percent to 4,405 points.
Shares of Sunny Optical Technology (2382) and Trip.com (9961) tanked by over 10.9 percent, the two worst performers among blue chips.
Alibaba (9988) also dipped 4.4 percent following Anthropic’s accusation that the Chinese tech giant illicitly extracted its Claude AI model capabilities.
Mainland bank stocks dropped, led by a 5 percent decrease in Bank of China (3988) after China's state auditor accused the lender of 2.4 billion yuan tax evasion.
In the mainland, the Shanghai Stock Exchange Composite Index was up by 0.2 percent to 4,120 points, and the Shenzhen Stock Exchange Component Index jumped by 1.8 percent to 16,344 points.
