Hong Kong Stocks Fall: Hang Seng Down 1.89%, Alibaba Slides Over 8%

Hong Kong stocks closed lower on August 24, with the Hang Seng Index falling 1.89% and the Hang Seng Tech Index dropping 3.61%. Among individual stocks, Alibaba fell more than 8%, Xiaomi declined over 4%, and both Baidu and Tencent dropped more than 3%. Zhongji Innolight slid over 11%, Zhipu fell more than 10%, and SMIC declined nearly 8%.