HK hits three-month low, tech fears weigh on mainland

The mainland's blue-chip index fell to a one-year low on Thursday as traders returning from a week-long holiday faced renewed geopolitical tensions, higher global yields, and a looming earnings season that threatens still-lofty valuations of Chinese tech shares. In Hong Kong, the benchmark Hang Seng Index dropped 344 points, or 1.4 percent, to 23,785, touching its lowest level in three months, on turnover of HK$207.26 billion. The tech index dropped 121 points, or 2.9 percent, to 4,073, its lowest level in two years, while the China enterprises index fell 71 points, or 0.9 percent, to 8,010. Up north, stock benchmarks are now near where they were two years ⁠ago, when a stimulus bonanza from Beijing lit up share prices and boosted hopes for a slow bull run, which is now limping in a three-month downtrend. The blue-chip CSI300 Index closed down 1.1 percent. The index has hit its lowest level since August 2025 and is down roughly 15 percent from its June peak. The Shanghai Composite Index closed down 30 points, or 0.79 percent, at 3,811 on turnover of 811.18 billion yuan. The Shenzhen Component Index plunged 266 points, or 2.07 percent, to 12,620 on turnover of 870.9 billion yuan while the ChiNext Index dived 98...