Hong Kong Stock Midday Review: Tech Stocks Decline, Hang Seng Index Falls Below 19,000 Points

According to Jin10 data on January 13, Hong Kong stocks followed the downward trend of US stocks last Friday in the early session, with the Hang Seng Index and the Tech Index both dropping over 2% at one point. The Hang Seng Index closed down 1.35% at 18,807.68 points; the Tech Index closed down 1.38% at 4,202.05 points. On the market, most tech stocks fell, while chip stocks and oil and gas stocks rose against the trend, and home appliance stocks declined. In terms of individual stocks, WuXi AppTec stocks fell, with WuXi XDC (02268.HK) down 11.7%. Documents show that WuXi XDC shareholders will sell up to $153 million worth of shares. The two oil giants rose against the trend, with China Petroleum & Chemical Corporation (00857.HK) up 1.8%, CNOOC (00883.HK) up 2%, and China Petroleum & Chemical Corporation (00386.HK) down 1.1%. Affected by Tencent's reduction in holdings, UBTECH ROBOTICS (09880.HK) fell another 9.2%. Semiconductor Manufacturing International Corporation (00981.HK) rose nearly 4%, NetEase (09999.HK) rose 2.7%, Haier Smart Home (06690.HK) fell 5.5%, and MEITUAN (03690.HK) fell 4.7%