Hong Kong's three major stock indices opened sharply lower, with the Hang Seng Tech Index falling more than 2% and the Hang Seng Index declining nearly 1.5%.

Among the constituent stocks of the tech index, SenseTime, Xiaomi, Alibaba, and Li Auto dropped more than 3%, NetEase fell 3%, while BYD, JD.com, Meituan, Kuaishou, and Baidu each declined more than 2%.