Hong Kong stocks mid-day review: the Hang Seng Index fell sharply by 2.2% to a new low, with technology stocks performing poorly, while coal and aviation stocks were strong.

In the morning trading session, the three main indexes of Hong Kong stocks collectively fell, especially the Hang Seng Technology Index, which fell by 2.2%, hitting a new low since mid-July 2025, and recording a fifth consecutive decline. The Hang Seng Index and the State-owned Enterprise Index fell by 0.41% and 0.54% respectively. Weighted technology stocks continued to decline as a market risk target, with the Yuanbao Red Envelope link being restricted by WeChat, causing Tencent to drop by 4% at one point, while Baidu, Meituan, and Xiaomi all fell by more than 2%. Stocks in the mobile industry chain, semiconductor stocks, and AI application concept stocks saw significant declines. In addition, institutions are optimistic about a steady rebound in coal prices, leading to a strong performance in coal stocks, while airline and domestic bank stocks continue to be active.