NetEase Inc. (NTES) experienced a significant 24-hour plunge of 5.10%, with the decline particularly pronounced during pre-market trading.

The sharp drop was driven by a broad selloff in Hong Kong-listed technology stocks, which transmitted selling pressure to US-listed Chinese ADRs. Key Hong Kong tech names, including NetEase's own Hong Kong shares, Tencent Holdings, Kuaishou, and Bilibili, all fell sharply, dragging down the Hang Seng Tech Index.

Furthermore, the decline was amplified by short-term profit-taking activity. NetEase had recently rallied over 5% following its formal inclusion in the Hang Seng Index series, which had triggered passive fund allocation. The combination of deteriorating sector-wide sentiment and investors locking in gains from that prior surge contributed to the magnitude of the pullback.