On November 18, as the Hong Kong stock market closed for the midday break, the Hang Seng Index witnessed a 1.47% decline, slipping below the critical 26,000-point threshold. Meanwhile, the Hang Seng Tech Index dropped by 1.67%. The technology sector, as a whole, experienced a downturn, with notable companies such as Xiaomi, JD.com, and Kuaishou hitting their lowest points for the given period. XPeng Motors took a significant hit, plunging nearly 10% and leading the automotive stocks in their downward trajectory. Additionally, sectors including steel, coal, gold, and non-ferrous metals also saw declines. Nevertheless, semiconductor chip stocks stood out against this bearish trend, maintaining their active status. This was attributed to the storage market's revival, which spurred wider price hikes, and the equipment sector benefited from the downstream expansion trend. Among the key players, SMIC emerged as a frontrunner, rising by 1.5%.