The benchmark Hang Seng Index fell 0.63%, dropping 163 points to 25,773 points, while the Hang Seng Tech Index declined 1.27%. Early session turnover on the Hong Kong exchange reached 115.8 billion Hong Kong dollars.

CRO concept stocks continued their upward momentum. Pharmaron (03759) advanced 9.61%, Genscript Biotech (01548) rose 8.44%, and Asymchem Laboratories (06821) gained 6%. Progress in WuXi AppTec's legal proceedings is seen as beneficial for CXO companies securing new overseas orders.

Zai Lab (09688) climbed over 5% after reporting an 11% quarter-on-quarter increase in product revenue for Q2, with Citigroup expressing optimism about the company's China business stabilizing in the second half of the year.

ImmuneOnco-B (01541) surged another 13% as ImmuneOnco introduced its first external commercial capital to accelerate its non-oncology pipeline development.

Mabwell-B (02493) jumped over 11% after two of its denosumab injection products passed the GMP on-site inspection by Brazilian health regulators.

SICC (02631) extended its gains by over 4%, as the company leads the silicon carbide industry into the 12-inch era.

Tsugami China (01651) rose over 5%, noting that orders from the electronics and AI liquid cooling sectors accounted for approximately 40% of its new orders.

CCTC (06951) advanced over 9%, as the MLCC industry experiences a rush to chase and secure supply, benefiting the entire supply chain.

Pony-W (02026) gained over 7% after announcing that its fourth-generation Robotruck has officially rolled off the production line from Sany Heavy Truck's manufacturing facility.

Gold stocks broadly weakened. Rising oil prices have intensified concerns about inflationary pressures, while hawkish signals from the Federal Reserve have added further weight. China Gold International (02099) fell 2.5%, and Zijin Mining (02899) dropped 3.5%.

Global New Material (06616) declined over 2.7%, after the company warned it expects to swing to a net loss of up to 100 million yuan in the first half, dragged down by amortization and expenses related to asset acquisitions.