The Hang Seng Tech Index has seen its decline deepen, now dropping more than 2%.

Among the index's constituent stocks, Zhipu AI has fallen over 12%.

Shares of MINIMAX, XPeng Inc, and NIO Inc are each down more than 5%.

Kuaishou Technology has declined by over 4%.

Stocks of Semiconductor Manufacturing International Corp (SMIC) and Meituan have both fallen more than 3%.