Hong Kong’s Hang Seng Tech Index Drops More Than 5%, Below 3,800

On Thursday, Oct. 22, Hong Kong’s Hang Seng Tech Index fell below 3,800 points and was down more than 5%. The broader Hang Seng Index also declined, losing more than 3% in the same session. Among individual shares, Zhipu and 天数智芯 each dropped more than 9%, while Minimax fell 6.98%. The figures show losses across the technology index, the wider Hong Kong benchmark and all three named companies. Index levels are measured in points, while percentage figures show how far indexes and shares moved during trading.

Those declines followed a mixed run for the companies. On Thursday, Oct. 15, Zhipu fell 11.01%, Minimax dropped 12.29% and 天数智芯 declined 13.58%. The three shares rebounded after opening higher on Friday, Oct. 16. On Wednesday, Oct. 21, Zhipu gained 1.4% and Minimax rose 0.64% even as other internet shares weakened. By Thursday, Oct. 22, both had turned lower again, with Zhipu and 天数智芯 down more than 9% and Minimax down 6.98%.