Hang Seng Index closes down 0.13%, Hang Seng Tech Index falls 0.92%

The dispersion here is more telling than the index moves: tech's underperformance is concentrated in consumer internet names like Meituan, while property weakness resurfaces through R&F and Shimao, suggesting sector-specific pressure rather than a broad risk-off session. The split between decliners and gainers such as NIO and GDS points to rotation within Hong Kong tech rather than uniform selling. Whether property-related names keep dragging and whether the tech softness broadens beyond a few heavyweights is the open question.