Hong Kong Stocks Retreat; Hang Seng Index Falls 0.95% on Tech Rout, Gold and Energy Rally

HK500.14%
HSCHKD-0.10%
TENCENT-7.04%
NTES-4.64%
According to Cnyes.com, Hong Kong's Hang Seng Index fell 0.95% today (July 22), closing at 24,892.66 points, while the Hang Seng Tech Index plummeted 3.04% to 4,668.23 points amid a broad selloff in large-cap technology stocks. Tencent and NetEase each dropped over 7%, with AI application stocks like MiniMax tumbling over 11%. Defensive assets rallied in response, as gold and precious metals stocks surged on cooling rate expectations and central bank buying support. Zhaojin Gold and Lingbao Gold each gained over 15%, while energy stocks including coal and power equipment also advanced amid supply constraints.
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