Hang Seng Index hovers at 24,000 points at close, Lenovo slumps 14pc

Hong Kong shares ended lower on Thursday amid the global tech selloff, as investors are concerned the US interest rate will rise further on higher-than-expected inflation.

The benchmark Hang Seng Index fell 251 points, or 1.03 percent, to 24,062 points, with a full-day market turnover of HK$224.1 billion.

The Hang Seng Tech Index dropped 2.72 percent to 4,060 points.

Lenovo (0992) nosedived 14.5 percent to a two-month low, marking the worst performer among blue chips.

It was followed by Hua Hong Grace Semiconductor (1347), down 7.8 percent, while Semiconductor Manufacturing International Cooperation (0981) dropped nearly 4 percent.

Tech heavyweights Alibaba (9988) and Tencent (0700) slid 3.7 percent and 1.3 percent.

Chinese artificial intelligence firms also underperformed the market. Z.AI (2513) slumped 10 percent, and MiniMax (0100) dived 12.1 percent to a new low.

In the mainland, the Shanghai Stock Exchange Composite Index went down 1.59 percent to 3,707 points, and the Shenzhen Stock Exchange Component Index retreated 2.43 percent to 11,816 points.

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