Hong Kong's three major stock indices all traded lower by midday on September 11. The Hang Seng Index fell 0.85% to 24,742.51 points, the Hang Seng Tech Index dropped 0.79%, and the Hang Seng China Enterprises Index declined 0.46%.

In terms of sector performance, technology stocks were mostly in the red, with Lenovo plunging over 4%, while Bilibili and Kuaishou each fell more than 1%. On the flip side, Xiaomi and Tencent both climbed over 1%.

The nonferrous metals sector saw sharp losses, led by Jiangxi Copper Company Limited (H-share) tumbling more than 10%. This followed a sudden drop in LME copper futures after several consecutive days of gains. Sources indicate that the White House's copper tariff plan has stalled amid concerns over manufacturing costs and the cost-of-living burden. With the US midterm elections approaching, Trump and Republican lawmakers are under pressure to demonstrate that their economic policies are lowering rather than raising costs for American consumers and businesses. The increasing focus on living costs has reportedly led to hesitation among relevant parties.

Memory chip-related stocks also weakened, with Longsys down over 5%. Earlier this morning, South Korea's stock market opened lower, with the KOSPI index down 3.29%. Individual stocks like Samsung Electronics and SK Hynix each fell more than 4% during intraday trading. Additionally, on September 9, the CEO of Japanese memory giant Kioxia, Yukio Ota, made a rare public statement, asserting that "memory prices have risen enough!"

The property sector remained depressed, with CIFI Holdings Group losing more than 5%. The strong US August PPI data has pushed the probability of a Fed rate hike next week to nearly 70%, while the 10-year US Treasury yield approaches 5%, adding extra pressure on interest-rate-sensitive real estate stocks. On the individual stock front, on September 10, Guangzhou R&F Properties and its chairman Li Silian were subject to consumption restriction measures imposed by the Tianhe District Court in Guangzhou, related to a trust loan contract dispute. The company stated that these restrictions have not yet had a material adverse impact on its daily operations or debt repayment capabilities, and it remains in active communication with relevant institutions.