Hong Kong stock market closed lower on Thursday. The Hang Seng Index (HSI) fell by 0.20%, the Hang Seng China Enterprises Index (HSCEI) decreased by 0.69%, the Hang Seng Technology Index (HSTECH) dropped by 0.87%, and the Hang Seng Composite Index (HSCCI) declined by 0.89%.

In terms of industry sectors, the movie stocks saw a significant rise with an increase of 4.59%. The entertainment stocks also performed well, rising by 4.25%. The gambling sector followed with a gain of 2.88%, while the aluminum industry rose by 2.08%. On the other hand, the property management sector experienced a sharp decline of 6.32%, followed by the tobacco sector which fell by 5.14%, and the Apple concept stocks which dropped by 4.75%.

TENCENT fell by 0.50%. The stock saw a pullback after an intraday gain of 4%, reflecting the overall decline in the technology sector. The Hang Seng Index and Hang Seng Technology Index both turned negative amid a series of news, with significant drops in the property sector.

BABA-W rose by 2.55%. Alibaba's stock price was buoyed by news of its partnership with Apple to create AI features for Apple products in China. This collaboration is seen as a strategic move for both companies.

XIAOMI-W dropped by 5.56%. The stock experienced a significant decline as the technology sector saw a pullback. The overall market sentiment was affected by the broader decline in tech stocks.

BIDU-SW rose by 5.74%. Baidu's stock price was boosted by the announcement that its AI service, Wenxin Yiyan, will be fully open for free from April 1, providing advanced search and task handling features.

KUAISHOU-W surged by 6.31%. The stock saw significant gains as the short video sector continued to rise, with Kuaishou leading the charge.

BYD COMPANY fell by 3.69%. The automotive sector faced pressure with several stocks, including BYD, experiencing declines. The sector was impacted by broader market trends and specific news affecting individual companies.

MEITUAN-W rose by 2.90%. Despite the overall decline in the technology sector, Meituan saw gains, likely driven by positive sentiment in the market.

AIA surged by 5.42%. The stock saw a significant rise, reflecting positive investor sentiment and strong performance in the insurance sector.

NTES-S fell by 1.62%. The stock was affected by the overall decline in the technology sector, despite positive news earlier in the day.