According to a Hong Kong Stock Exchange filing, Standard Chartered Bank repurchased a total of 377,990 shares on other exchanges on August 21, at a cost of £8.2 million.

Most popular U.S. tech stocks fell in pre-market trading, with AMD (AMD.O) down more than 2%, SpaceX (SPCX.O) down 2%, Intel (INTC.O) down 1.9%, TSMC (TSM.N) down 1.3%, and Broadcom (AVGO.O) down 1%.

US-listed storage stocks weakened in pre-market trading, with SK Hynix (SKHY.O) and Micron Technology (MU.O) down 3.4%, SanDisk (SNDK.O) down 4.2%, and Western Digital (WDC.O) down 2.9%.

Hong Kong stocks closed with the Hang Seng Index down 1.89% and the Hang Seng Tech Index down 3.61%. Alibaba (09988.HK) closed down 8.54% for the day. Zhipu (02513.HK) and MINIMAX-W (00100.HK) both closed down more than 10%.

Pinduoduo (PDD.O) will release its second-quarter earnings report on Monday. According to a FactSet survey of nine analysts, second-quarter net profit is expected to be 24.4 billion yuan (approximately US$3.62 billion), lower than the 30.75 billion yuan in the same period last year; revenue is expected to be 115.41 billion yuan, higher than the 103.985 billion yuan in the same period last year. Citigroup analysts predict that Pinduoduo's adjusted net profit in the second quarter will decline by 28% year-on-year, focusing on whether weak online marketing revenue and non-operating income will again impact revenue and profit performance. Deutsche Bank believes that the company's fundamentals have not yet bottomed out, and there are no obvious catalysts in the short term. Competition from live-streaming e-commerce and social e-commerce poses a challenge to its market position. Its subsidiary Temu faces regulatory pressure in Europe, and the company has long lacked stable shareholder returns and sufficient transparency in information disclosure.

Alibaba (BABA.N) shares fell 4% in pre-market trading.