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Hong Kong Stocks Slump Over 600 Pts, Once Breaching 23,000 Mark; LENOVO GROUP (00992.HK), HUA HONG GRACE (01347.HK) Each Plunge 7%; CATL (03750.HK) Extends 7-Day Losing Streak; Z.AI (02513.HK) Drops Over 8%
2026-10-22 11:07:06
Hong Kong stocks opened down 138 pts this morning (22nd), with losses widening to more than 650 pts at one stage. The HSI once fell below the 23,000 mark, hitting a low of 22,996 pts, the lowest level in more than three months. The index last stood at 23,060 pts, down 689 pts or 2.5%, with turnover of HKD102.05 billion.

Heavyweight tech stocks dragged the market lower. BABA-W (09988.HK) slipped below the HKD100 mark and was last reported at HKD98.05, down 5.45%, with turnover of HKD5.03 billion. TENCENT (00700.HK) was last reported at HKD382.8, hitting another more-than-18-month low, down 2.79%, with turnover of HKD9.407 billion. MEITUAN-W (03690.HK) was last reported at HKD72, down 3.61%, with turnover of HKD709 million. LENOVO GROUP (00992.HK) was last reported at HKD23.96, down 7.85%, making it the worst-performing blue chip stock, with 57.1746 million shares traded involving HKD1.407 billion. HUA HONG GRACE (01347.HK) fell 7%, while NTES (09999.HK) dropped about 6%. SMIC (00981.HK) fell more than 4%. XIAOMI-W (01810.HK) slipped nearly 4%.

CATL (03750.HK) extended its losing streak to seven consecutive sessions and was last reported at HKD345.6, repeatedly hitting a more-than-one-year low, down 5.26%, with turnover of HKD1.247 billion. GEELY AUTO (00175.HK) and BYD COMPANY (01211.HK) each dropped more than 3%, with BYD COMPANY (01211.HK) falling below the HKD70 mark to HKD68.7, a 52-week low. LI AUTO-W (02015.HK) fell more than 5%.

Major financial stocks were weak, though their declines were relatively moderate. HSBC HOLDINGS (00005.HK) fell 0.8%, AIA (01299.HK) dropped 1%, and HKEX (00388.HK) declined 1.2%, while BOC HONG KONG (02388.HK) fell 2.3%. PING AN (02318.HK) slipped nearly 1%, while CHINA LIFE (02628.HK) dropped 2%. BANK OF CHINA (03988.HK) fell 2.2%, CM BANK (03968.HK) lost 1.6%, while CCB (00939.HK) and ICBC (01398.HK) fell between 0.9% and 1.4%.

Two major AI large-model stocks came under pressure. Z.AI (02513.HK) was last reported at HKD453.4, down 8.59%, with turnover of HKD1.107 billion. MINIMAX-W (00100.HK) was reported at HKD159.6, down 7.16%, with turnover of HKD565 million. (da/u)~

AASTOCKS Financial News
Website: www.aastocks.com

This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.