Hang Seng Tech Index turns positive in afternoon; Meituan up 4%, NetEase up 2%

A broad index reversal led by single-stock moves in Meituan and NetEase is a reminder that Hong Kong tech sentiment remains headline- and flow-driven rather than anchored in disclosed fundamentals, since no catalyst was given. The outsized Meituan gain relative to NetEase suggests the move is concentrated in a few heavyweights, meaning index direction may hinge on a narrow set of names rather than sector-wide conviction. Whether the afternoon strength holds into the close, and whether other constituents follow, is the open question for gauging if this is a durable shift or an intraday bounce.