Hong Kong Stock Market Mid-day Report: The Hang Seng Tech Index fell by 1.71%, technology stocks were under pressure, gold stocks rebounded, and Ningde Times surged.

In the morning session, the three major indexes of the Hong Kong stock market continued to decline, with heavyweight technology stocks continuing to fall, putting pressure on the overall market. The Hang Seng Tech Index fell by 1.71% at midday, showing the weakest performance, while the Hang Seng Index and the State-owned Enterprise Index fell by 0.63% and 0.95% respectively. Xiaomi and Alibaba led the decline in heavyweight technology stocks, with drops of 7% and 5.76% respectively. AI applications and software stocks performed poorly, and most storage chip stocks also declined. In addition, spot gold returned to $4730, gold stocks rebounded, and the leading lithium battery company Ningde Times surged again, supported by multiple positive factors. Geely Automobile performed the strongest among automobile stocks.