Hong Kong's three major stock indices ended the trading session on Wednesday, September 11, with collective losses. By the market close, the Hang Seng Index had declined 0.6% to 24,805.63 points, the Hang Seng Tech Index fell 0.23%, and the Hang Seng China Enterprises Index slipped 0.34%.

Across the board, technology stocks showed mixed performance, with Lenovo Group dropping over 2% while Xiaomi Corp gained more than 1%. In the optical communications sector, several names were notably active, led by Zhongji Innolight which surged over 4%. Conversely, nonferrous metals took a hard hit, with Jiangxi Copper plunging more than 9%, while memory chip concept stocks also weakened as GigaDevice fell over 5%.

In the optical communications space, shares rallied after the final rules from the US Federal Communications Commission (FCC) were officially implemented. Notably, Chinese optical communication supply chain firms, including Zhongji Innolight, Eoptolink Technology, Shenzhen Sunway Communication, and Tianfu Communication, were not directly placed on the FCC's restriction list. According to Sinolink Securities, the resolution of the FCC overhang is likely to significantly ease market concerns over the optical communications sector.

The nonferrous metals segment led the declines, as Jiangxi Copper dropped more than 9%. The sell-off came after a sharp reversal in LME copper prices, which had previously risen for several consecutive sessions. Sources indicated that the White House's copper tariff plan has stalled due to worries over manufacturing costs and the financial burden on consumers. With the US midterm elections approaching, President Trump and Republican lawmakers are under mounting pressure to demonstrate that their economic policies are lowering, not raising, costs for American consumers and businesses. The administration's heightened focus on the cost of living has reportedly led to hesitation among relevant parties.

Memory chip stocks also lost ground, with GigaDevice falling more than 5%. The weakness was mirrored in South Korea, where the KOSPI Composite Index closed down 124.0 points, or 1.76%, at 6,909.92. Among major players, Samsung Electronics closed down 3.53% while SK Hynix fell 2.21%. Adding to the sector's headwinds, Japan's memory giant Kioxia CEO Nobuo Hayasaka made a rare public statement on September 9, bluntly declaring that "memory prices have risen enough already."