HSI falls nearly 250 points by midday, Baidu drops 5.7 percent, chip makers rally

Hang Seng Index closed down nearly 250 points at the midday break.

The benchmark Hang Seng Index fell 248 points, or 0.97 percent, to 25,402 points.

The half-day market turnover was HK$122.97 billion.

Tech gauge went down by 1 percent to 4,524 points.

Major tech stocks Baidu (9888) edged lower by falling 5.74 percent, and Xiaomi (1810) dropped 3.94 percent. Chip makers rallied, with Hua Hong Grace Semiconductor (1347) and Semiconductor Manufacturing International Corporation (0981) climbing 5.2 percent and 1.56 percent, respectively.

In the mainland, the Shanghai Stock Exchange Composite Index slipped 0.24 percent, or 9 points, to 3,920 points. While the Shenzhen Stock Exchange Composite Index increased 1.38 percent to 13,703 points.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓