The Hang Seng Index dropped 0.39%, or 95 points, to 24,176 points, while the Hang Seng Tech Index fell 1.54%. Morning session turnover in Hong Kong stocks reached HK$101.8 billion.
Yue Yuen Industrial (Holdings) Ltd (HKG: 00551) surged over 6% as its consolidated operating revenue for September reached US$669 million, up 5.6% year-on-year. Changfeng Pharmaceutical (HKG: 02652) rose 2% after its core management voluntarily extended the lock-up period, with the chairman recently increasing his shareholding. Champion Real Estate Investment Trust (HKG: 02778) gained 5% as the recovery pace of Hong Kong's Central office market clearly leads the overall market. Kinwong Electronic (HKG: 03228) climbed over 5% before midday, with third-quarter non-GAAP net profit attributable to shareholders showing strong growth both year-on-year and quarter-on-quarter, and robust order books in areas such as high-speed optical modules.
Muyuan Foods (HKG: 02714) fell 2% as September commercial pig sales revenue dropped 6.01%, with supply pressure in the market continuing to persist. Pharmaceutical stocks broadly declined, with CRO-related concepts leading the losses. GenScript Biotech Corporation (HKG: 01548) dropped over 12%, while Pharmaron Beijing (HKG: 03759) fell more than 6%. As rate-sensitive assets, Hong Kong innovative drug stocks are affected by Federal Reserve policy movements.
Dajin Heavy Industry (HKG: 01081) declined another 5% after wind power companies denied rumors of EU anti-dumping and anti-subsidy investigations, with the company deriving nearly 70% of its revenue from Europe. Solar stocks continued their downward trend. Solar companies held another anti-involution meeting, with institutions noting that solar demand is notably weak. Junda Shares (HKG: 02865) fell 2%, while Flat Glass Group (HKG: 06865) dropped 1.5%.
On October 12, the main lithium carbonate futures contract closed down 11.79%, dragging lithium battery concept stocks lower. Lead Intelligent Equipment (HKG: 00470) plunged 10%, and Ganfeng Lithium (HKG: 01772) fell another 3%.