As Hong Kong's stock market closed for midday trading, the Hang Seng Index dipped 0.66%, with the Hang Seng Tech Index declining further by 1.04%. Notably, SMIC saw a surge of over 8%, and Hua Hong Semiconductor rose by more than 4%. Conversely, Meituan's share price took a significant hit, plummeting by over 10%. XPeng Inc also fell by more than 7%, while Alibaba, JD.com, and Li Auto each experienced declines of over 3%.