Hong Kong tech stocks fluctuated and weakened in the afternoon, with Alibaba falling nearly 5%.

Hong Kong-listed Chinese internet stocks weakened in afternoon trading on November 6, with Alibaba (09988.HK) falling nearly 5% and Xiaomi (01810.HK) and Tencent (00700.HK) each dropping more than 3%, while Kuaishou (01024.HK) and JD.com (09618.HK) also declined. The broad-based pullback hit the sector's largest names simultaneously, underscoring renewed pressure on Chinese tech valuations in Hong Kong. The move matters because these megacaps carry heavy index weight and often set the tone for broader sentiment toward China's platform economy. Investors will watch whether the selloff deepens in the coming sessions or stabilizes, with attention on any company-specific news or policy signals that could explain the drop.