Hang Seng Index closes down 0.98%, Hang Seng Tech down 1.41%

The split within the session is the story: consumer-internet and EV names sold off while optical and technology hardware names rallied hard, suggesting rotation rather than broad risk-off. That divergence matters for anyone tracking whether Hong Kong tech weakness reflects sector-specific earnings concerns or a wider de-risking. With the tech index underperforming the broader benchmark, the open question is whether the hardware strength can offset continued softness in platform and auto shares, or whether the index-level decline broadens.