Hong Kong stocks saw broad losses across all three major indices. By the midday close, the Hang Seng Index had fallen 1.69% to 24,343.19, the Hang Seng Tech Index had dropped 2.14%, and the China Enterprises Index had declined 1.84%.

On the board, tech and internet stocks fell broadly, with Kuaishou, Xiaomi, and NetEase each dropping more than 3%, while JD.com fell nearly 3%. Biopharmaceutical stocks bucked the trend, with GENSCRIPT BIO (ASX: 01548) surging more than 8%. Power equipment stocks led the declines, with Shanghai Electric dropping more than 5%. Mainland property stocks tumbled, with Sunac China falling more than 6%.

Biopharmaceutical stocks rise against the market, GENSCRIPT BIO up over 8%

According to related reports, AI unicorn Anthropic announced the official establishment of a life sciences research laboratory. Its large model Claude has also achieved a breakthrough, successfully discovering a novel enzyme system with CRISPR-like DNA repeat sequences, demonstrating the disruptive potential of large models in discovering fundamental biological mechanisms. In addition, GENSCRIPT recently announced a collaboration with Eli Lilly's AIDD platform Lilly TuneLab.

Power equipment stocks lead declines, Shanghai Electric down over 5%

Oracle issued a force majeure notice to Blue Owl Capital regarding its Project Jupiter data center in New Mexico. If the project is delayed, Oracle is attempting to postpone payments. Affected by this, Blue Owl Capital and Bloom Energy both closed down more than 3% overnight in U.S. markets. It is understood that Project Jupiter uses Bloom Energy's fuel cells. Notably, investor concerns about the project's prospects have spread from core participants to surrounding supply chains, and growing public resistance to data center construction is also adding selling pressure.

Mainland property stocks tumble, Sunac China down over 6%

Recently, market rumors suggested that a nationwide interest subsidy policy would be implemented, with the Ministry of Finance and local governments jointly providing subsidies of up to 100 basis points, pushing first-home mortgage rates down to the 2% level. Another version claimed a total quota of 100 billion yuan with a 20 basis point subsidy. Multiple brokerage real estate analysts have taken a cautious stance on these rumors, believing that the likelihood of a nationwide interest subsidy policy being implemented is low. One analyst stated, "At the national level, extending the loan term is actually similar to the interest reduction from subsidies or rate cuts."