Shares of 腾讯控股 Fall Below HK$400 as Hong Kong Tech Index Slides

The Hang Seng Tech Index fell more than the Hang Seng Index in late trading Oct. 21, while shares of 腾讯控股 dropped below HK$400 and two AI model stocks gained.

The Hang Seng Index declined 1%, while the Hang Seng Tech Index fell 1.44%. Shares of 腾讯控股 lost 3.7%, taking them below the HK$400 threshold.

Other internet shares also declined. 快手, 美团 and 哔哩哔哩 each fell more than 2%.

The weakness did not extend to every technology stock. Among AI model stocks, shares of 智谱 rose 1.4%, while MINIMAX-W gained 0.64%.