The Hang Seng Index fell 3.46%, losing 875 points to 24,402, while the Hang Seng Tech Index dropped 3.1%. Morning session turnover reached HK$192.4 billion. New energy vehicle stocks bucked the downtrend, supported by rising oil prices and China's automakers leading global sales. Geely Auto (00175) rose 4%, and Leapmotor (09863) gained 2%. Yadea Group (01585) surged over 10% as the market anticipated opportunities for electric two-wheelers amid high oil prices, with the company forecasting a net profit exceeding RMB 2.9 billion last year. China Xuyang Group (01907) climbed over 5% as institutions favored coal chemical sector allocations amid ongoing Middle East tensions. New listing Nations Technologies (02701) debuted on the Hong Kong Exchange, achieving dual listing status, and rose over 15% in morning trading. Domestic insurance stocks declined across the board, with market concerns about insurers' quarter-end solvency assessments, though analysts suggested the impact should not be overstated. China Life Insurance (02628) fell over 7%, while New China Life Insurance (01336) dropped 8%. Sinopec (00386) declined 3.42% after reporting a 30% year-on-year decrease in net profit attributable to shareholders, with a final dividend of HK$0.112 per share. Airlines continued their downward trend as oil prices rose. China Eastern Airlines (00670) fell over 10% as carriers frequently increased international route fuel surcharges. Hong Kong bank stocks extended losses amid escalating Middle East tensions, with HSBC and Standard Chartered facing significant profit pressure. HSBC Holdings (00005) dropped 4%, and Standard Chartered (02888) fell 4%. Nonferrous metal stocks led the declines, with metals showing sensitivity to macroeconomic interest rate policies amid central bank dilemmas caused by Middle East conflicts. Chifeng Jilong Gold Mining (06693) plunged over 25%, Shandong Gold Mining (01787) dropped over 8%, and Aluminum Corporation of China (02600) fell over 5%.