Hong Kong stocks commenced trading on a downbeat note and continued to slide throughout the session, with the Hang Seng Index, Hang Seng Tech Index, and State-owned Enterprises Index all plummeting by more than 2%. Notably, the Hang Seng Tech Index and State-owned Enterprises Index witnessed steeper declines of 2.5%. Among individual stocks, Kuaishou dropped over 5%, while Bilibili and Li Auto also fell by more than 4%. Despite this broad market weakness, Mixue Group defied the downtrend, surging over 6% to attain a new record high. Separately, the United States alleged that China had breached the China-US economic and trade consensus, a claim that the Ministry of Commerce firmly rejected and refuted as unfounded accusations.
