The semiconductor sector saw significant declines: Lenovo Group (00992) fell 6.63% to HK$26.20; Hua Hong Semiconductor (01347) dropped 3.74% to HK$72.15, marking ten consecutive days of decline with a cumulative drop of 34.41%; SMIC (00981) declined 2.67% to HK$51.00.
Tech and internet stocks opened collectively lower: Alibaba (09988) down 1.84% at HK$106.80; Baidu (09888) down 1.89% at HK$77.95; Tencent (00700) down 1.1% at HK$413.20; Meituan (03690) down 0.86% at HK$75.05; JD.com (09618) dipped 0.57% to HK$105.50.
Hansoh Pharmaceutical (03692) rose 2.71% to HK$32.60 after announcing a collaboration with Roche, receiving a $400 million upfront payment; WuXi Biologics (02269) gained 1.66% to HK$49.00.
CATL (03750) opened down 2.99% at HK$427.60 after JPMorgan slashed its price target and downgraded the stock to neutral ahead of earnings.
HSBC (00005) fell 2.81% to HK$145.50; Standard Chartered (02888) down 2.86% at HK$217.20; AIA (01299) declined 1.64% to HK$72.10. (ey)