Hong Kong stocks retreat as regional tech volatility offsets short covering

Hong Kong stocks retreated on Thursday morning, surrendering recent gains as ongoing volatility across Asian markets and a brutal tech sell-off in neighbouring bourses weighed on local sentiment.At the lunchtime break, the benchmark Hang Seng Index was down 0.78 per cent to 24,011, erasing its initial upwards momentum. The Hang Seng Tech Index edged down 0.06 per cent, as the broader regional drag overshadowed optimism surrounding recent initial public offering lock-up expirations.Among high-profile tech movers, Knowledge Atlas Technology, also known as Zhipu AI, bucked the downward trend to surge over 10 per cent as trading volatility surrounding its recent IPO share unlocking began to ease. In contrast, rival Artificial Intelligence model developer MiniMax tumbled nearly 14 per cent while navigating its first major lock-up expiry on Thursday.