Glonghui, April 16 | Hong Kong stocks continued to fall yesterday in the morning session, and market sentiment was sluggish. As of midday trading, the Hang Seng Technology Index had the weakest performance, falling by nearly 3%. It closed down 2.7% in the afternoon. The Hang Seng Index and China Index fell 1.93% and 1.82% respectively. All three had a low opening for 2 consecutive days. On the market, the weight of large technology stocks, big financial stocks, and Chinese head stocks dragged down the market. Many stocks such as JD and Alibaba fell more than 2%, and China Merchants Bank, CITIC Securities, and AIA all fell; Tesla plans to lay off 10% of the global workforce. The car market price war in April was still intense, auto stocks fell sharply, NEV stocks were at the top of the decline. The “Big Three” car building forces led the decline, and auto dealer stocks and Tesla concept stocks fell; the gaming law may put pressure on the intermediary gambling business and fall all at once. PV stocks, catering stocks, cement stocks, sporting goods stocks, etc. all showed poor performance. On the other hand, petroleum stocks and coal stocks bucked the trend. CNPC had just risen by more than 2% and then hit a new high. Most paper stocks flourished. Earnings in the first quarter turned profit and loss, and Chenming Paper surged nearly 10%.