Hong Kong stock market midday report: Hang Seng Index falls by 1.93%, with weak performance from technology and financial stocks, sharp drop in entertainment sector, semiconductor stocks rising against the trend.

Due to the plunge in the overnight US stocks and geopolitical influences, the three major indexes of the Hong Kong stocks opened low and continued to fall in the morning session. The Hang Seng Technology Index once fell sharply by 2.7%, closing down 2.36% at midday. The Hang Seng Index and the H-share Index both dropped by 1.93% and 2.06% respectively. Big tech stocks, seen as market indicators, collectively performed poorly with Meituan falling over 5% and Tencent breaking below HK$520. Major financial stocks showed weakness, with the Spring Festival box office in 2026 declining by 38.7% compared to the previous year, leading to a sharp drop in entertainment stocks, including Maoyan Entertainment hitting a new low. Gold stocks showed mixed trends. In addition, semiconductor stocks and storage concept stocks rose against the trend, with AI applications "dual giants" Smart Spectrum and MINIMAX-WP showing strong performance.