Hong Kong's Hang Seng Index fell 0.52% in morning trading, dropping 129 points to 24,704, while the Hang Seng Tech Index declined 1.11%. Total turnover in early Hong Kong trading reached HK$82.1 billion.

Recently listed Nazhen Technology (09856) surged more than 7%, backed by Hisense Group, with potential for positive synergies with two other listed companies. Xunce (03317) gained over 4% after partnering with JINPU Investment to jointly explore building an AI-native, Token-native investment portfolio ecosystem. Duodian Zhizhi (02586) rose another 14%+, accumulating gains of over 90% in the past two weeks as its AI retail ecosystem deployment accelerates.

BoTe Connected (02889) climbed 2.7% after signing a strategic cooperation memorandum with Arm to deepen its physical AI layout. Kaileshi Technology (02729) jumped 20% as in-warehouse logistics intelligence upgrades and the company accelerates overseas market expansion. Zhida Technology (02650) advanced 2.99%, planning a placement to raise net proceeds of approximately HK$203 million to boost public charging infrastructure and robotics operations. Tuhu-W (09690) rose 6% on plans to acquire all equity of Australia's Conti Trade Australia Pty Ltd, advancing its international expansion strategy.

CATL (03750) dropped another 4%+ as automakers adjust their battery supply systems, though Citi noted that market concerns over battery demand are excessive. Copper stocks led the declines, with the Federal Reserve's renewed rate hike expectations weakening support for copper prices. Luoyang Molybdenum (03993) fell 4.6%, while Jiangxi Copper (00358) slid 3.5%.

Chinese property stocks pulled back collectively. Rumors of mortgage interest subsidies sparked market interest, but industry players believe such policies are unlikely to materialize. Sunac China (01918) declined 1.5%, and New Metro Development (01030) dropped 3.3%. Muyuan Foods (02714) fell over 4% as supply growth outpaces demand, pressuring pork prices lower ahead of the holiday season.