Hong Kong stocks extended losses in morning trading. The Hang Seng Index slid 2.9%, while the Hang Seng Tech Index retreated 3.1%.
Bilibili, Xiaomi, and MiniMax fell 6%; XPeng and Kuaishou fell 5%; Li Auto, Baidu, NetEase, CATL, and Z.AI fell 4%; JD.com, Meituan, Alibaba, and BYD fell 3%; Tencent and Pop Mart fell 2%.
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