Hang Seng Index Closes Up 0.25%, Hang Seng Tech Index Down 0.67%

The split between the flat-to-positive benchmark and a weaker tech gauge shows the move was narrow rather than broad, with the drag concentrated in property and materials names carrying double-digit declines. That these are Hong Kong-listed mainland developers and lithium-linked materials suggests the pressure is specific to those sectors' ongoing troubles rather than a market-wide risk-off shift. Whether that weakness stays contained to property and materials, or spills into the wider index, is the open question worth watching.