Hong Kong Stocks Close Lower: Hang Seng Down 0.48%, Tech Index Falls 1.08%

The split between a soft headline index and a sharp rotation underneath is the real story: tech and autos sold off while property names rallied hard, a reversal of the sector leadership that has dominated Hong Kong trading. That divergence suggests money is repositioning rather than leaving, with cyclicals and beaten-down developers drawing bids as growth names cool. Whether the property strength is a durable turn or a one-day squeeze, and whether auto weakness spreads to the broader tech complex, is the open question worth tracking.