Hong Kong stocks trimmed their losses in afternoon trading. The Hang Seng Index fell 1.6%, while the Hang Seng Tech Index decreased 0.3%.
In terms of star stocks, MiniMax rose 13%; XPeng rose 5%; BYD rose 3%; Meituan and Li Auto rose 2%; NIO and Xiaomi rose 1%; while Tencent fell 0.7%; JD.com fell 0.8%; Alibaba fell 2%.