The Hang Seng Tech Index has seen its decline deepen, now dropping more than 2%.
Among the index's constituent stocks, Zhipu AI has fallen over 12%.
Shares of MINIMAX, XPeng Inc, and NIO Inc are each down more than 5%.
Kuaishou Technology has declined by over 4%.
Stocks of Semiconductor Manufacturing International Corp (SMIC) and Meituan have both fallen more than 3%.
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