Hong Kong stocks recouped all their intraday losses on Tuesday as the market recovered from early losses despite continued pressure on technology stocks.
Hong Kong's benchmark Hang Seng Index swung to a gain of 0.3% at the close, extending its winning run to third day, but the Hang Seng Tech Index remained in the red, falling 0.8%.
The AI-led rally that powered the key Asian markets has come under intense selling pressure in recent sessions as investor anxiety grows over the sustainability of the rally amid soaring valuations. Emerging competitive threats from China have also weighed on sentiment.
South Korea's benchmark Kospi suffered a steeper sell-off, plunging more than 7% intraday and falling below the 6,000 mark before recovering some of its losses. The index fell around 5% on Tuesday.
The losses were led by Samsung Electronics, which plunged 7.4%, while memory-chip maker SK Hynix crashed 10.1%.