Hang Seng Index Falls 372 Points Below 23,000 Level, Down 1.62% in Early Trading

Hong Kong's Hang Seng Index fell 372 points to 22,704 early today, breaking below the 23,000 level as selling pressure extended losses. As of 10:15 a.m., the index was down 1.62%. The National Index dropped 1.85% to 7,467 points, while the Tech Index declined 2.65% to 4,289 points.

Among major stocks, Sunny Optical fell 9.4% to 60.7 HKD and Lenovo dropped 4.8% to 22.82 HKD, leading declines. BYD declined 4.3% to 72.75 HKD. Tech stocks broadly retreated, with Baidu down 2.4% to 100.9 HKD, Tencent falling 1.5% to 415 HKD, and Alibaba declining 4.2% to 91.05 HKD. NetEase bucked the trend, rising 2.4% to 186.2 HKD.