Hong Kong's Hang Seng Index Falls 197 Points Amid Afternoon Selling Pressure

According to market data, as of 2:14 PM HK time today (July 7), Hong Kong's Hang Seng Index fell 197 points, or 0.84%, to 23,418 amid afternoon selling pressure that widened losses to over 200 points at their peak. The National Index dropped 67 points, or 0.86%, to 7,745, while the Tech Index fell 42 points, or 0.93%, to 4,499.

Optical communications stocks took the heaviest losses. Long Fu Fiber Optic (HK:06869) plunged 8.2% to 157.5 HKD, while Faraday Technology (HK:06166) fell 3.7% to 100.8 HKD. Kuaishou Technology (HK:01024) dropped 9.9% to 41.42 HKD following Tencent's stake reduction.