Hang Seng Index turned negative, Hang Seng Tech Index extended loss to 1.3%.

SMIC fell 7%; HG Semi fell 5%; XPeng fell 3.4%; Li Auto fell 3%; Xiaomi fell 2.4%; Kuaishou fell 1%; China Vanke rose 4%.

Starting this year, 30% of the annual insurance premium earned from new policy sales will be invested in China’s onshore markets, Wu Qing, the chairman of the China Securities Regulatory Commission, said at a press conference in Beijing on Thursday. These investments would increase by 10% every year over the next three years, he added.