Hong Kong stock market midday update: Three major indexes hit new lows! Technology and semiconductor stocks led the decline, while innovative pharmaceutical companies strengthened against the trend.

In the morning session, Hong Kong stocks continued their decline, with market sentiment remaining low. As of midday, the Hang Seng Index fell by 1.13%, the state-owned enterprise index fell by 1.2%, and the Hang Seng Technology Index fell by 2.21%. All three refreshed recent lows. Weighted technology stocks continued to decline, with JD.com falling by 4.6%, Xiaomi falling by nearly 4%, Tencent falling by 3.6%, Alibaba and Meituan falling by 3%, all hitting new lows for the period! Influenced by the sharp decline of chip stocks in the South Korean market, storage semiconductor stocks, which had been rising continuously, saw a significant pullback, while gold stocks and real estate stocks also continued to decline. In addition, most innovative pharmaceutical concept stocks were active against the trend, with most domestic bank stocks rising.