The Hang Seng Index fell 0.47%, or 113 points, to 24,099 points in morning trading.

The Hang Seng Tech Index declined by 1.42%.

Turnover for the Hong Kong market's morning session reached HK$1.62 trillion.

Oil stocks were mostly higher, as the risk of escalating tensions in the Middle East persists, with the three major state-owned oil giants expected to benefit fully from rising oil prices in the second quarter.

PetroChina Co Ltd (HKG: 00857) shares advanced 3.35%.

CNOOC Ltd (HKG: 00883) shares gained 2%.

Shandong Molong Petroleum Machinery Co Ltd (HKG: 00568) shares surged 14%.

China Xuyang Group Ltd (HKG: 01907) shares rose more than 5%, with analysts suggesting the coal chemical sector could significantly boost the company's earnings flexibility.

True Health Medical-B (HKG: 02697) shares jumped over 16%, having soared 320% in the two weeks since its listing to reach a new high, supported by the State Council's '15th Five-Year Plan' which provides comprehensive support for innovative medical device development.

Sihuan Pharmaceutical Holdings Group Ltd (HKG: 00460) shares climbed more than 8% after clinical research results for its Mei Yan Space's Dong Yan product were published in an international SCI journal.

LBL-B (HKG: 09887) shares increased over 6%, with multiple research outcomes selected for ESMO and its core pipeline drug LBL-024 included in a priority review process.

Pharmaron Beijing Co Ltd (HKG: 03759) shares added 4.6% as the company forecast a 4% to 10% rise in first-half net profit, with CMC orders expected to open up growth opportunities.

Nio Inc (HKG: 09866) shares were up 5% following the commencement of initial deliveries for its ES8 large five-seater model.

Zhongwei New Materials Co Ltd (HKG: 02579) shares gained over 5% after a positive profit alert, with the company anticipating its first-half attributable net profit could increase by up to 84.23% year-on-year, supported by steadily growing laterite nickel ore revenue.

Lingbao Gold Co Ltd (HKG: 03330) shares rose 2.8% intraday, with the company expecting a first-half net profit increase of approximately 42% to 57%.

Solargiga Energy Holdings Ltd (HKG: 00580) shares dropped nearly 7% despite forecasting a more than 40% rise in first-half revenue, as it recorded a loss of nearly RMB 30 million.

COSCO SHIPPING Energy Transportation Co Ltd (HKG: 01138) shares fell another 5%, even after reporting a doubling of second-quarter net profit year-on-year, with analysts noting that trapped shipping capacity in the Gulf is weighing on performance.