Hong Kong stocks are abnormal | Technology stocks are all falling, dragging down the Hang Seng Index by more than 3%. Expectations of interest rate cuts cooling down, combined with worries about an AI bubble, are impacting the US stock market.

According to the 36Kr Finance APP, the overnight plunge of US stocks has impacted global markets. Tech stocks plummeted in the morning session, with the Hang Seng Tech Index falling by over 3%. As for individual stocks, as of the time of writing, SMIC (01347.HK) dropped by 4.49% to 74.5 Hong Kong dollars; SMIC International (00981.HK) fell by 3.95% to 70.6 Hong Kong dollars; Alibaba-W (09988.HK) slid by 3.49% to 149.4 Hong Kong dollars; and Tencent (00700) decreased by 1.98% to 96.55 Hong Kong dollars.