- The Hang Seng Index fell 2.9% to 22,971.93 at the noon break, poised for its lowest close since June 30.
- The Hang Seng Tech Index dropped 4.6%, on track for a level not seen in two years.
- Tencent and Alibaba fell at least 3% as sluggish Chinese consumer spending weighed on the earnings outlook for the largest internet platforms.
- CATL extended its decline after an interim report showed slower profit growth, and MiniMax fell below its IPO price for the first time since its January debut.
Quotes
“Sell-offs in Hong Kong stocks deepened on Thursday”
“as hopes faded that Beijing would introduce more meaningful stimulus measures”