Hong Kong Stock Market Falls Over 300 Points in Afternoon Trading; Tech Stocks Drop 3%+

HK50-0.03%
HSCHKD-0.25%
TENCENT-7.04%
Hong Kong stocks extended losses on July 22, with the Hang Seng Index falling 284 points (down 1.13%) to 24,847 points by 1:47 p.m. after declining 10 points the previous day. The tech-heavy Nasdaq Golden Dragon China Index plunged 3.11% to 4,664 points, pressured by heavy selling in major tech stocks. Tencent dropped 6.3% to HK$444.2, NetEase fell 7.2% to HK$193.3, and Kuaishou declined 5.4% to HK$42.66. Other major tech players including Alibaba, Meituan, Baidu, and Xiaomi also fell between 2.4% and 3.4%.
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