HSI1 24,562.24 -446.36 347.33B
HSCEI1 8,136.73 -181.41 111.34B
Back    Zoom +    Zoom - Block Traded
HSI Plunges 494 Pts at Midday; KNOWLEDGE ATLAS Crashes 22%; BABA-W, TENCENT Down 3%+
2026-07-17 12:47:40
At midday, the HSI closed at 24,514, down 494 pts or 1.98%, with half-day turnover at HKD175.751 billion. The HSTECH closed at 4,638 at midday, down 195 pts or 4.04%. The HSCEI closed at 8,116, down 201 pts or 2.42%.

Leading techs were squeezed. MEITUAN-W (03690.HK) slumped 6.08%; KUAISHOU-W (01024.HK) dived 5.8%; while TENCENT (00700.HK), BABA-W (09988.HK) and BIDU-SW (09888.HK) slid more than 3%.

The three major AI large-model stocks came under pressure. KNOWLEDGE ATLAS (02513.HK) crashed 21.9%; MINIMAX-W (00100.HK) plunged 13.83%; and XUNCE (03317.HK) tumbled 9.01%. Chip stocks also traded lower. SMIC (00981.HK) nosedived 5.98%; GIGADEVICE (03986.HK) tumbled 8.67%; and HUA HONG GRACE (01347.HK) plummeted 7.18%.

SK Group Chairman sought to stabilize sentiment, saying SK Hynix's share price would continue to ascend over the long term. XL2CSOPHYNIX (07709.HK) narrowed its losses and collasped 15.12% at midday, while XL2CSOPSMSN (07747.HK) slumped 17.11%.

Among volatile stocks, MONTAGE TECH (06809.HK), which issued a positive profit alert, fell off 7.9%. The company responded to allegations of price manipulation, saying it would actively cooperate with South Korean authorities' investigation. KINGBOARD HLDG (00148.HK) slid 6.33% at midday after Chairman Cheung Kwok Wing reduced his stake, while KB LAMINATES (01888.HK) also stumbled 9.03%.
~

AASTOCKS Financial News
Website: www.aastocks.com