Hong Kong's stock market faced renewed pressure following two days of gains, as uncertainty in the Middle East and disappointing earnings from major blue-chip stocks weighed on investor sentiment. According to Ming Pao, the Hang Seng Index fell by over 500 points at one point, ending its two-day rally and dropping below the significant 25,000-point level and the 250-day moving average, often referred to as the 'bull-bear line.'
Kuaishou Technology saw its stock price plummet by 14% after major financial institutions lowered their target prices following its earnings report. Meanwhile, Pop Mart International Group, a new consumer stock, continued its decline, with a cumulative drop of over 30% in two days.