Hong Kong Stocks Fall at Midday; Baidu Drops Over 5%
Hong Kong's benchmark Hang Seng Index fell 0.97% by midday, with the Hang Seng Tech Index down 1%. Major tech stocks declined, led by Baidu, which dropped more than 5%, and Meituan, which fell over 2%. In contrast, optical communication, PCB, and memory storage concept stocks broadly gained.
As of the midday close, the Hang Seng Index fell 0.97%, while the Hang Seng Tech Index declined 1%. Large technology and internet stocks broadly weakened, with Baidu Group dropping more than 5% and Meituan falling over 2%. Meanwhile, optical communication, PCB, and memory storage concept stocks saw broad gains.