On June 3rd, the Hong Kong Hang Seng Index closed down 1.56%, while the Hang Seng Tech Index fell by 2.74%.

Technology and internet stocks were broadly lower. Kingdee International dropped over 7%, Meituan-W (03690) fell nearly 6%, JD-SW (09618) declined more than 4%, and shares of TENCENT (00700) and BABA-W (09988) were down over 3%.

The biopharmaceutical sector also saw significant losses. WUXI BIO (02269), WuXi XDC Cayman Inc., and HENGRUI PHARMA (01276) all tumbled by approximately 7%.