Hang Seng Index briefly slips below 23,000 as Alibaba leads tech sell-off (opens original article in a new tab)

Hong Kong's Hang Seng Index briefly fell below 23,000 as tech stocks declined, led by Alibaba's drop amid allegations and global AI valuation concerns.

• Hong Kong stocks fell, with Hang Seng Index briefly dropping below 23,000 points
• Alibaba led tech sector decline after allegations of illicit capability extraction
• Global AI stock valuations faced concerns due to Fed's hawkish tone and South Korean chip stock turmoil