"Hong Kong Stocks" The Hang Seng Index fell 484 points in the first half of the day, with domestic insurance and commodity stocks softening, while AI large model stocks continued to be speculated

Investors sold off technology stocks, and the Dow Jones Industrial Average fell 1.3% overnight. The Hong Kong stock market opened lower in line with external markets. The Hang Seng Index opened down 392 points, with the initial decline narrowing to 258 points at 26,774 points before falling again, closing down 484 points or 1.8% at 26,547 points; the National Index fell 159 points or 1.74% to 9,015 points; the Hang Seng Tech Index fell 89 points or 1.65% to 5,319 points. The total turnover of the market for the half-day was HKD 128.406 billion.

Financial stocks fell, with HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) both down 2.1%, AIA (01299.HK) and Standard Chartered (02888.HK) down 3.8%. Domestic insurance stocks China Taiping (00966.HK), PICC (01339.HK), and Taikang (02601.HK) fell 3.4% to 4.3%, while China Life (02628.HK) fell 5% to HKD 32.64.

Gold prices fell below USD 5,000 per ounce overnight, with Shandong Gold (01787.HK), China Gold International (02099.HK), Zijin Mining International (02259.HK), and Lingbao Gold (03330.HK) down 3.6% to 4.2%, and Zijin (02899.HK) down 5.2%. Gold retail stocks Lao Pu Gold (06181.HK) fell 5.3%, while Luk Fook (00590.HK) and Chow Tai Fook (01929.HK) fell 3.2% and 3%, respectively. Commodity stocks Jiangxi Copper (00358.HK) fell 3.1%, while China Minmetals Resources (01208.HK) and China Molybdenum (03993.HK) fell 4.4% and 4.5%.

Oil prices dropped nearly 3%, with Sinopec (00386.HK), PetroChina (00857.HK), and CNOOC (00883.HK) down 3.2% to 4.1%, and oil services company CNOOC Services (02883.HK) down 3.4%. Transportation stocks COSCO Shipping Energy (01138.HK) fell 4.8%.

In the technology sector, Tencent (00700.HK) and NetEase (09999.HK) fell 1.69% and 1.6%, respectively, while Kuaishou (01024.HK) and Alibaba (09988.HK) fell 2.1% and 2.3%. Bilibili (09626.HK), New Oriental (09901.HK), and JD.com (09618.HK) fell 2.7% to 3%, while Baidu (09888.HK) and Meituan (03690.HK) fell 3.8% and 4.5%.

Additionally, Meitu (01357.HK) and Xindong (02400.HK) fell 4.1% and 3.6%, while Beike (02423.HK) and Kingsoft Cloud (03896.HK) fell 5.3% and 6.9%. Chip stocks SMIC (00981.HK) and Hua Hong (01347.HK) rose 0.4% and 0.6% AI large model stocks continue to be traded, MiniMax (00100.HK) launched its latest flagship programming model MiniMax M2.5, with a stock price increase of 9.4%. Zhizhu (02513.HK) rose by 11.9%. Power equipment stocks Harbin Electric (01133.HK) and Dongfang Electric (01072.HK) fell by 5% and 5.6%, respectively, while wire stocks Changfei Optical Fiber Cable (06869.HK) retracted by 6.6%.

In the automotive sector, Xiaomi Auto has cumulatively delivered over 600,000 vehicles, and Xiaomi (01810.HK) fell by 0.5% along with the market. BYD (01211.HK) dropped by 1.3% to HKD 97.3, and Li Auto (02015.HK) fell by 2.8%. Automotive parts stock Nexperia (01316.HK) rose by 7.7%, while Hongteng (06088.HK) fell by 11.3%. Robotics stock Yuejiang (02432.HK) increased by 6%. Gaming stocks Wynn Macau (01128.HK) fell by 4%, with Credit Lyonnais indicating that Wynn Macau's fourth-quarter performance last year was below market expectations. Melco International (00200.HK) dropped by 6%