The Hang Seng Index fell 0.89%, or 232 points, to 26,050 in morning trading, while the Hang Seng Tech Index declined 1.91%. Trading volume reached HK$142.3 billion in the morning session. The Hang Seng Biotech Index rebounded 2.16%.

Among index constituents, DUALITYBIO-B (09606) surged 10.88%, while 3SBio (01530) rose over 10%. Innovent Biologics (01801) gained 6.82%, and Kelun-Biotech (06990) climbed 5.69%. Foresun Pharma (01652) soared nearly 74% intraday before closing the morning session up 59.42%, following the approval of its enzalutamide soft capsules and the inclusion of its metformin-empagliflozin tablets in the national bulk-buy program.

RemeGen (09995) advanced 6.75% as its nine-month revenue grew 40% year-on-year, with losses narrowing significantly. Aplus Medical (01858) jumped over 21% after turning profitable in Q3 with a net income of RMB77.1 million, driven by international market expansion.

Newly listed DEEPEXI TECH (01384) continued its rally, surging 18.97% to double its IPO price in just three trading days.

On the downside, Angang Steel (00347) slid over 8% despite narrowing its nine-month net loss to RMB2.04 billion. Zoomlion (01157) rose over 3% post-earnings, with net profit up 24.89% YoY amid expansion in mining machinery. China Everbright Bank (06818) dropped 5% after reporting declines in both revenue and profit, pressured by fair value losses.

Huahui Health (02563) plunged over 37% at one point as its one-year post-IPO lock-up period expired. Lionhead Holdings (02562) tumbled more than 24% to a record low after announcing a HK$260 million convertible bond issuance for gold-related investments. Air China (00753) slumped over 8% as Q3 net profit fell 11%, with plans to raise up to RMB20 billion via an A-share private placement.