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Hong Kong's benchmark Hang Seng index slipped 0.5% by the lunch break. The Hang Seng China Enterprises Index fell 0.7% while Hang Seng Tech lost 0.9%. AI developer Minimax and tech giant Alibaba dropped 5% and 3% respectively. Biotech firms dropped 2.7%.
Hong Kong stocks declined on Wednesday, mirroring a broader downturn in Asian markets. Declines in major internet and biotech companies contributed to the weakness, while rising oil prices also factored into market sentiment. The Hang Seng benchmark index slipped 0.5% by the midday break.