The CSOP Hang Seng TECH Index Daily (2x) Leveraged Product (07226) fell sharply by 5.05% during the intraday session, mirroring a broader decline in the Hang Seng Tech Index, which dropped 2.41%.
The decline was driven by a sell-off in risk assets, with potential pressure from the Bank of Japan's expected rate hike and ETF sell-offs starting January. Tech giants, financials, and state-owned enterprises led the declines in Hong Kong stocks, contributing to the leveraged product's downturn.
Meanwhile, China approved its first batch of L3 autonomous driving vehicles for road testing, which provided some support to related sectors but was insufficient to offset the broader market weakness.
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