Hong Kong Stock Market Declines: Hang Seng Index Falls 1.78%, Tech Index Down 4.37% on July 17

According to MoneyDJ, on July 17, the Hang Seng Index closed at 24,562.24 points, down 446.36 points or 1.78%, with the daily candlestick turning negative. The Hang Seng Tech Index fell 211.27 points to 4,623.17, a decline of 4.37%.

Technology and semiconductor stocks faced heavy selling pressure as AI momentum cooled and foreign tech stocks retreated. Shares like SMIC dropped over 9%, reflecting weak chip sector demand. Among AI-linked stocks, Zhipu fell 28.49% and Minimax declined 15.63%. Utilities stocks showed relative resilience as funds shifted toward defensive positions.