Hong Kong stocks closed lower on Thursday, weighed down by a broad selloff in tech heavyweights and biopharmaceutical names
The benchmark Hang Seng Index fell 320 points, or 1.27 percent, to 24,954 points.
The full-day market turnover came to HK$198 billion.
Tech gauge declined 2.04 percent to 4,330 points.
Tech majors broadly declined. Meituan (3690) and Baidu (9888) dropped 3.92 percent and 3.3 percent. Alibaba (9988) fell by 2.64 percent.
Biopharmaceutical stocks also came under pressure. Hansoh Pharmaceutical Group Company (3692), Innovent Biologics (1801), and CSPC Pharmaceutical (1093) slumped 4.2 percent, 3.92 percent, and 3.63 percent, respectively.
China Life (2628) rose 2.24 percent as the best-performing blue chip. MTR Corporation (0066) rose 1.39 percent. While China Unicom (0762) and China Telecom (0728) rallied by rising 1.56 percent and 1.21 percent.
In the mainland, the Shanghai Stock Exchange Composite Index slipped 17 points, or 0.43 percent, to 3,934 points, and the Shenzhen Stock Exchange Composite Index slipped 0.77 percent to 13,617 points.
