The Hang Seng dropped 28 points, or 0.1%, to close at 25,774 on Tuesday, reversing early gains led mainly by tech stocks and snapping a four-session winning streak. The decline followed a 3.5% fall in shares of Kuaishou Technology after media reports said the Chinese short-video platform experienced a sudden surge in explicit content due to a cyberattack on Monday.
The stock plunged as much as 6%, its biggest one-day percentage drop since October 14, before closing down 3.5%. The company confirmed it had experienced a cyberattack on Monday night and said in a statement on Tuesday that it had activated its emergency response plan.
However, losses were capped by a rise in US futures as tech sectors continued to recover from a volatile streak, with renewed optimism around AI-related shares fueling a rally on Wall Street. Other decliners included WuXi AppTech, China Unicom, Tencent Holdings, and JD Health International, each falling 2.0%, while Hansoh Pharmaceutical Group lost 1.9%.
Source: Trading Economi
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