Hong Kong stock market midday review: Hang Seng Index fell by 1.23% and lost the 26000 point mark again, technology, non-ferrous metals declined together, semiconductor remained strong.

In the morning session, the three major indexes of the Hong Kong stock market opened lower and continued to decline. The Hang Seng Index fell by 1.23%, dropping more than 300 points below the 26000 point level. The state-owned enterprise index and the Hang Seng Technology Index also fell by 1.28% and 0.97% respectively. Yesterday's rebound in large technology stocks reversed, with Xiaomi, Alibaba, and Tencent all falling by more than 3%. The Federal Reserve's decision to hold rates combined with the strengthening of the US dollar led to a decline in non-ferrous metal stocks. Automotive stocks, lithium battery stocks, airline stocks, and domestic banking stocks all saw a general decline. In addition, the combination of state-owned chips and domestic models! DeepSeek is compatible with domestic chips, leading to a strong performance in semiconductor chip stocks with the industry leader, SMIC, surging by over 6%.