Hong Kong Stocks Plunge Over 600 Points as Gold Miners' Rout Drags Down Tech and Financial Sectors

Global financial markets were rattled by a sharp plunge in precious metal prices, sending Hong Kong stocks sharply lower on February 2. The Hang Seng Index closed down 2.23%, or over 600 points, at 26,775. The Hang Seng China Enterprises Index fell 2.54%, while the Hang Seng Tech Index plunged as much as 4.3% intraday before ending the day down 3.36%, marking its third consecutive trading day of losses. Shares across the automotive, semiconductor, financial, and gold sectors all declined sharply, significantly weighing on market sentiment.