Hong Kong stocks close lower, led by tech losses

Hong Kong stocks closed lower on Wednesday, partly due to the broad decline in tech giants.

The benchmark Hang Seng Index fell 212 points, or 0.83 percent, to 25,440, with a full-day market turnover of HK$216.7 billion. 

The Hang Seng Tech Index dropped by 0.99 percent to 4,776 points.

Tech heavyweights underperformed the market, with Alibaba (9988) and Tencent (0700) slipping 3 percent and 2 percent, respectively.

NetEase (9999) also dropped 5 percent, marking the biggest decline among the blue chips. Meituan (3690), JD.com (9618) and Xiaomi (1810) retreated 1.5 percent, 2.7 percent and 1.3 percent.

However, chipmakers Semiconductor Manufacturing International Cooperation (0981) and Hua Hong Grace Semiconductor (1347) rose 3.2 percent and 7.1 percent.

Notably, MiniMax (0100) jumped nearly 9 percent at close, while Knowledge Atlas Technology (2513), or Zhipu AI, advanced 1.3 percent.

In the mainland, the Shanghai Stock Exchange Composite Index was up by 0.32 percent to 3,946 points, and the Shenzhen Stock Exchange Component Index rose by 1.49 percent to 14,414 points.

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