Hong Kong's Hang Seng Index and Hang Seng Tech Index experienced significant declines in the afternoon, with the Hang Seng Index dropping over 2% and the Hang Seng Tech Index falling more than 3%. The Hang Seng Mainland Properties Index also saw a 4% decline. Major technology stocks such as JD.com, Bilibili, Meituan, Baidu, and Weibo faced notable losses, with Longfor Group leading the decline with a 7% drop. The Hang Seng Tech Index has now slid over 20% from its October high, entering a technical bear market. Investors are reducing positions amid rising geopolitical risks.