Hong Kong Tech and Internet Stocks Suffer Broad Selloff

Deep News

Yesterday

Hong Kong's benchmark Hang Seng Index fell 1.89% on August 24, while the Hang Seng Tech Index tumbled 3.61%.

The tech and internet sector witnessed a widespread decline, with the "twin titans" of large language models taking a severe hit. Both Zhipu AI and MiniMax saw their shares plunge by more than 10%.

Alibaba Group Holding Ltd (SEHK: 9988) dropped over 8%, while Semiconductor Manufacturing International Corp (SEHK: 0981) fell nearly 8%. Hua Hong Semiconductor Ltd (SEHK: 1347) declined by more than 5%.

Other notable losers included Horizon Robotics Inc (SEHK: 9660), Xiaomi Corp (SEHK: 1810), and Kuaishou Technology (SEHK: 1024), each shedding over 4%. Meanwhile, Baidu Inc (SEHK: 9888), Tencent Holdings Ltd (SEHK: 0700), and NetEase Inc (SEHK: 9999) all retreated by more than 3%.

The semiconductor and chip stocks also came under heavy pressure, with the Wind Hong Kong Semiconductor Index plunging over 6%. Iluvatar CoreX (SEHK: 0668), Hongguang Semiconductor (SEHK: 6908), and Shandong Tianyue Advanced Materials (SEHK: 6887) all saw declines exceeding 10%, while Montage Technology (SEHK: 6889) fell more than 8%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers HK | Online Trading in stocks, bonds & ETFS","description":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","keywords":"tiger trading,tiger security,tiger broker hk,tigers co ltd,tiger trade hk,tiger brokers hk,stock broker,securities broker,online brokerage,hong kong broker,hk broker,online stock trading,online trading platform,stock trading platforms,trading application,stock trading,stock trading hong kong,buying stocks in hong kong,tiger brokers","social":{"ogDescription":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.gotigerhk.com/news/1130593499"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"HKG","license":"TBHK","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1130593499\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/1130593499?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-08-24 16:51","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1130593499","market":"sg","top_or_hot":-1,"title":"Hong Kong Tech and Internet Stocks Suffer Broad Selloff","media":"Deep News","content":"<p>Hong Kong's benchmark Hang Seng Index fell 1.89% on August 24, while the Hang Seng Tech Index tumbled 3.61%.<br><br>The tech and internet sector witnessed a widespread decline, with the \"twin titans\" of large language models taking a severe hit. Both Zhipu AI and MiniMax saw their shares plunge by more than 10%.<br><br><b>Alibaba Group Holding Ltd</b> (<b>SEHK: 9988</b>) dropped over 8%, while <b>Semiconductor Manufacturing International Corp</b> (<b>SEHK: 0981</b>) fell nearly 8%. <b>Hua Hong Semiconductor Ltd</b> (<b>SEHK: 1347</b>) declined by more than 5%.<br><br>Other notable losers included <b>Horizon Robotics Inc</b> (<b>SEHK: 9660</b>), <b>Xiaomi Corp</b> (<b>SEHK: 1810</b>), and <b>Kuaishou Technology</b> (<b>SEHK: 1024</b>), each shedding over 4%. Meanwhile, <b>Baidu Inc</b> (<b>SEHK: 9888</b>), <b>Tencent Holdings Ltd</b> (<b>SEHK: 0700</b>), and <b>NetEase Inc</b> (<b>SEHK: 9999</b>) all retreated by more than 3%.<br><br>The semiconductor and chip stocks also came under heavy pressure, with the Wind Hong Kong Semiconductor Index plunging over 6%. <b>Iluvatar CoreX</b> (<b>SEHK: 0668</b>), <b>Hongguang Semiconductor</b> (<b>SEHK: 6908</b>), and <b>Shandong Tianyue Advanced Materials</b> (<b>SEHK: 6887</b>) all saw declines exceeding 10%, while <b>Montage Technology</b> (<b>SEHK: 6889</b>) fell more than 8%.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Tech and Internet Stocks Suffer Broad Selloff</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong Tech and Internet Stocks Suffer Broad Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2026-08-24 16:51</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Hong Kong's benchmark Hang Seng Index fell 1.89% on August 24, while the Hang Seng Tech Index tumbled 3.61%.<br><br>The tech and internet sector witnessed a widespread decline, with the \"twin titans\" of large language models taking a severe hit. Both Zhipu AI and MiniMax saw their shares plunge by more than 10%.<br><br><b>Alibaba Group Holding Ltd</b> (<b>SEHK: 9988</b>) dropped over 8%, while <b>Semiconductor Manufacturing International Corp</b> (<b>SEHK: 0981</b>) fell nearly 8%. <b>Hua Hong Semiconductor Ltd</b> (<b>SEHK: 1347</b>) declined by more than 5%.<br><br>Other notable losers included <b>Horizon Robotics Inc</b> (<b>SEHK: 9660</b>), <b>Xiaomi Corp</b> (<b>SEHK: 1810</b>), and <b>Kuaishou Technology</b> (<b>SEHK: 1024</b>), each shedding over 4%. Meanwhile, <b>Baidu Inc</b> (<b>SEHK: 9888</b>), <b>Tencent Holdings Ltd</b> (<b>SEHK: 0700</b>), and <b>NetEase Inc</b> (<b>SEHK: 9999</b>) all retreated by more than 3%.<br><br>The semiconductor and chip stocks also came under heavy pressure, with the Wind Hong Kong Semiconductor Index plunging over 6%. <b>Iluvatar CoreX</b> (<b>SEHK: 0668</b>), <b>Hongguang Semiconductor</b> (<b>SEHK: 6908</b>), and <b>Shandong Tianyue Advanced Materials</b> (<b>SEHK: 6887</b>) all saw declines exceeding 10%, while <b>Montage Technology</b> (<b>SEHK: 6889</b>) fell more than 8%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KCAI","symbol_name":"KraneShares China Alpha Index ETF","start_time":0,"source_url":"","article_id":"1130593499","we_media_id":"1039043262","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1130593499","pubTimestamp":1787561498,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Deep News","introduction":"Global Stock Market Deep Analysis","home_visible":1,"id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"summary":"Hong Kong's benchmark Hang Seng Index fell 1.89% on August 24, while the Hang Seng Tech Index tumbled 3.61%.The tech and internet sector witnessed a widespread decline, with the \"twin titans\" of...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"KCAI":"KraneShares China Alpha Index ETF","VXUS":"国际股票ETF-Vanguard","BK4588":"碎股","BK4585":"ETF&股票定投概念"},"translate_title":"香港科技股和互联网股遭遇普遍抛售","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KCAI":1,"VXUS":1},"content_text":"Hong Kong's benchmark Hang Seng Index fell 1.89% on August 24, while the Hang Seng Tech Index tumbled 3.61%.The tech and internet sector witnessed a widespread decline, with the \"twin titans\" of large language models taking a severe hit. Both Zhipu AI and MiniMax saw their shares plunge by more than 10%.Alibaba Group Holding Ltd (SEHK: 9988) dropped over 8%, while Semiconductor Manufacturing International Corp (SEHK: 0981) fell nearly 8%. Hua Hong Semiconductor Ltd (SEHK: 1347) declined by more than 5%.Other notable losers included Horizon Robotics Inc (SEHK: 9660), Xiaomi Corp (SEHK: 1810), and Kuaishou Technology (SEHK: 1024), each shedding over 4%. Meanwhile, Baidu Inc (SEHK: 9888), Tencent Holdings Ltd (SEHK: 0700), and NetEase Inc (SEHK: 9999) all retreated by more than 3%.The semiconductor and chip stocks also came under heavy pressure, with the Wind Hong Kong Semiconductor Index plunging over 6%. Iluvatar CoreX (SEHK: 0668), Hongguang Semiconductor (SEHK: 6908), and Shandong Tianyue Advanced Materials (SEHK: 6887) all saw declines exceeding 10%, while Montage Technology (SEHK: 6889) fell more than 8%.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}