Hong Kong shares opened lower on Tuesday, pressured by tech and financial stocks, with the Hang Seng Index breaking below the 24,000-point level.
The benchmark Hang Seng Index edged down 196 points, or 0.81 percent, to 23,990 points.
The Hang Seng Tech Index declined 1.28 percent to 4,055 points.
Tech heavyweights Alibaba (9988) and Tencent (0700) opened 1.8 percent and 1.1 percent lower. Baidu (9888) fell 1.9 percent. Lenovo (0992) plunged 6.6 percent as the worst-performing blue chip.
Meanwhile, Hong Kong chipmakers did not benefit from the rebound in US AI stocks. PHLX Semiconductor Sector, a capitalization-weighted index comprising the 30 largest traded companies, ended an eight-day losing streak, closing up 1.61 percent. The index had previously fallen a cumulative 15.7 percent, marking its longest losing streak since 2008.
Semiconductor Manufacturing International Corporation (0981) retreated 2.6 percent, and Hua Hong Grace Semiconductor (1347) dropped 3.7 percent.
Separately, MiniMax (0100) increased 2.9 percent following its release of MiniMax AI M3.1 Flash yesterday.
In the financial sector, HSBC (0005) fell 2.8 percent, AIA (1299) dipped 1.6 percent, and Hong Kong Exchanges and Clearing (0388) opened flat.
Hansoh Pharmaceutical (3692) advanced 2.7 percent, together with WuXi Biologics (2269) opening up 1.7 percent, as the two best-performing blue chips.
