The Hang Seng Index declined 0.6 per cent to 24,980.20 at the noon trading break, adding to the 0.2 per cent loss on Tuesday. The Hang Seng Tech Index dropped 1.3 per cent. On the mainland, both the CSI 300 Index and the Shanghai Composite Index lost 0.1 per cent.

Short-video sharing platform Kuaishou Technology slumped 4.7 per cent to HK$70.55, while drug maker Hansoh Pharmaceutical Group slid 7.8 per cent to HK$35.78. Home-appliance maker Midea Group dropped 1.9 per cent to HK$81.05 and digital health services provider JD Health International retreated 6.4 per cent to HK$62.30.

Limiting the losses, Sunny Optical Technology jumped 6.6 per cent to HK$79.90 and Wuxi Biologics added 1.2 per cent to HK$30.14. Hong Kong developer Sun Hung Kai Properties advanced 1.6 per cent to HK$92, while lender Hang Seng Bank added 0.3 per cent to HK$111.90.

Toymaker Pop Mart, known for its Labubu doll, jumped 8.6 per cent to HK$305 after reporting robust first-half revenue.