The Hang Seng Index plunged 437 points, or 1.5%, to 24,585 on Monday, extending last week's selloff and reaching its lowest level since March. The decline was driven by a broad retreat in technology and growth stocks after a sharp downturn in global AI-related shares, as investors reassessed earnings prospects and the outlook for interest rates following stronger-than-expected US economic data. The robust jobs report reinforced expectations that the Federal Reserve could keep borrowing costs elevated for longer, dampening appetite for risk assets across the region. Sentiment was further pressured after reports that Iran fired missiles toward Israel, testing a fragile ceasefire and driving oil prices higher. In Hong Kong, technology, finance and retail trade shares led the decline. Among the biggest drags included Tencent (-1.2%), AIA (-1.0%), Kingboard Laminates (-5.3%), Lenovo (-5.1%), and Kuaishou Technology (-3.5%).