The Hang Seng Index dropped 1.4%, or 325 points, to 22,747 on Friday, extending its decline as continued weakness in global technology stocks weighed on investor sentiment. The downbeat tone followed a volatile overnight session on Wall Street, where renewed selling in megacap tech shares offset optimism sparked by strong semiconductor earnings.
Caution persisted in Hong Kong despite the debut of Apple supplier Lingyi iTech, whose HK$8.3 billion IPO underscored ongoing investor interest in AI-related listings but failed to lift the broader market. Technology stocks led the pullback, with additional pressure seen in financials and producer manufacturing names.
Among the notable decliners were Tencent (-1.4%), AIA (-1.8%), Semiconductor Manufacturing International Corporation (-2.5%), Lenovo (-4.2%), and Kingboard Laminates (-1.3%). The downside was partly cushioned by gains in Kingboard Holdings (+0.9%) and CITIC Resources Holdings (+8.5%).
