Hang Seng Index closed down more than 2.5%, SMIC fell more than 8%

On January 28 news, the Hang Seng Index closed down by more than 2.5%, and technology stocks fell sharply. The Hang Seng Technology Index fell by more than 4.4%. Chip semiconductors were among the top decliners. SMIC fell by more than 8% and Hua Hong Semiconductor fell by nearly 9%.